Which ITR form is applicable to an individual for FY 2023-24?

The forms applicable to an individual depends on the income source and type:

• For ITR-1 (Sahaj): Resident individual having total income up to ₹50 lakh from salary, other sources and owns only one house property.
• For ITR-2: Individuals and HUF's having Income more than ₹50 lakh. The individual can have Income from Capital gains and foreign incomes in addition to incomes already mentioned in Form ITR-1. He can also own more than one house property, foreign asset, unlisted equity shares and be a director in a company.
• For ITR-3: Individuals and HUF's having Income from business/profession aprt from those mentioned in form ITR-2. The form is also applicable to Individuals and HUF's who are partners of a firm.
• ITR-4 (Sugam): Resident individual and HUF's having total income upto ₹50 lakh from Salary, Other Sources and owns only one House property and having a Presumptive income from business and profession.