Income tax return filing: Choose this ITR form if you have income under capital gains

Income Tax Return (ITR) filing is a process by which taxpayers file information about their income earned and tax applicable to the income tax department. The department has notified seven various forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 for the same.

The applicability of these forms varies depending on the sources of income of the taxpayer, the amount of the income earned and the category of the taxpayer - like individuals, HUF, company, etc.

Likewise, the treatment of capital gain, as well as its reporting, plays a major role while selecting ITR forms.