ITR
Business & Finance abbreviation · Tax
| Stands for | Income tax return |
|---|---|
| Categories | Business & Finance |
ITR stands for Income tax return, a tax abbreviation.
Return filed with India's Income Tax Department on one of several numbered forms chosen by taxpayer type: ITR-1 (Sahaj) for salaried individuals with simple income, ITR-2 for capital gains, ITR-3 for business income and ITR-4 (Sugam) for presumptive income. The usual deadline for individuals not subject to audit is July 31.
Example: Don't forget to verify your ITR within 30 days of filing, or it's treated as not filed.
Usage notes
Returns are filed on the government e-filing portal and can be verified with an Aadhaar one-time password or through net banking. The Philippines and other countries also use "ITR" informally for any income tax return.
Related abbreviations
More tax abbreviations
- HST – Harmonized sales tax
- IHT – Inheritance tax
- IOSS – Import One-Stop Shop
- IP PIN – Identity Protection Personal Identification Number
- ITC – Input tax credit
- ITIN – Individual Taxpayer Identification Number
- K-1 – Schedule K-1
- LIHTC – Low-Income Housing Tax Credit
- LLC – Lifetime Learning Credit
- LTCG – Long-term capital gain
- MACRS – Modified Accelerated Cost Recovery System
- MAGI – Modified adjusted gross income