The Forms for Return of Income are assessment year specific. Central Board of Direct Taxes have prepared and notified following eight Return Forms for assessment year 2008-09. The changes made by the Finance Act 2007 have been incorporated.

(i) ITR-1 - For Individuals having salary and interest income and no other income. (Instructions to ITR-1)

(ii) ITR-2 - For Individuals and HUFs, having income from any source except from business or profession. (Instructions to ITR-2)

(iii) ITR-3 - For Individuals and HUFs being partners in firms and not having proprietory business or profession. (Instructions to ITR-3)

(iv) ITR-4 - For Individuals and HUFs having proprietory business or profession. (Instructions to ITR-4)

(v) ITR-5 - Combined Form For return of income and fringe benefits for Firms/AOP/BOI. (Instructions to ITR-5)

(vi) ITR-6 - Combined Form for return of income and fringe benefits for Companies. (Instructions to ITR-6)

(vii) ITR-7 - Combined Form for return of income and fringe benefits for Charitable / religious trusts, political parties and other non- profit organizations. (Instructions to ITR-7)

(viii) ITR-8 - Stand alone form for return of fringe benefits for persons who are not liable to file return of income but are liable to file return of fringe benefits (Instructions to ITR-8)

The return of income has to be filed by using the applicable form without any annexure (except for Form ITR-7) so as to facilitate electronic filing. 

E-filing initiative of the Department has been received well and for Assessment Year 2007-08 over 20 lakh E- Returns have been filed, out of which more than 64% E-Returns have been filed voluntarily by the tax payers. In terms of the taxes paid, these returns account for over 65% of total taxes collected. 

Electronic filing of returns for assessment year 2008-09 is compulsory for corporate tax-payers and for firms liable to tax audit u/s 44AB. These tax-payers may either file their return electronically under digital signature or may transmit the data of the return electronically and thereafter submit a one page verification Form which contains a summary of the return transmitted electronically.  

All other categories of taxpayers (other All other categories of taxpayers (other than charitable trusts, institutions, etc.) will have the option to file the return in a paper form or electronically, as mentioned above, or in a bar-coded return form.

The new forms will be available on the Income Tax Department's website http://www.incometaxindiaefiling.gov.in .The Government would urge taxpayers to use the e-filing option, since it will help the Department to serve them better.

Income tax return forms for AY2008 09: eight tailored ITRs; e filing mandatory for corporates and audit liable firms. Notification prescribes eight assessment year specific ITR forms, annexure less except one, mandates electronic filing for corporate taxpayers and those subject to tax audit with options for electronic transmission plus verification or digital signature, and structures forms and instructions to reflect statutory income heads, loss set off, Chapter VIA deductions, coded reporting of specified transactions, tax computation (including surcharge and education cess) and Tax Return Preparer provisions.