New ITR Forms AY 2015-16 : Which ITR form should you file?

New ITR forms AY 2015-16 are now available on Income Tax Department’s website. You can now file/e-file your Income Tax Returns for the Assessment Year 2015-16 or Financial Year 2014-15.

In addition to ITR-1, ITR-2 & ITR-4s, a new form ITR-2A has been introduced. It is an extended version of ITR1 and a trimmed version of ITR2. The last date to file tax returns has been extended till 31st August, 2015.

In this post let us understand – Who can file ITR1 / ITR2 / ITR2A / ITR4S? What are the conditions related to each Income Tax Returns Form (ITR)?

New ITR forms AY 2015-16  – Which ITR form should I file?

Who can use ITR-1 form?

ITR1 is also known as Sahaj form. This form can only be filed by an Individual and no other assessee can use this form for filing of their return of income. This form can be used if you have;

  • Salary or Pension Income
  • Income from one house property (excluding cases where loss is brought forward from previous years)
  • No business income / no Capital gains
  • No asset in foreign country or no income from a source outside India
  • Agricultural  income which is less than Rs 5,000
  • Income from other sources like FD/Shares/NSC etc.,
  • No income from lottery or horse racing

(If income of another person like your spouse, minor child, etc. is to be clubbed with your income, this Return Form can be used only if the income  being clubbed falls into the above income categories)

Who can use ITR-2A AY 2015-16 form?

ITR2A form can be filed by an Individual or Hindu Undivided Family (HUF). ITR2A can be used if you have;

  • Salary or Pension Income
  • Income from multiple house properties
  • No business income /No Capital gains
  • Income from other sources like FD/Shares/NSC etc.,
  • No asset in foreign country or no income from a source outside India
  • Agricultural income of more than Rs 5,000
  • Income from lottery or horse racing

Who can use ITR-2 form?

ITR2 form can be filed by an Individual or Hindu Undivided Family (HUF). This form can be used if you have;

  •  Salary or Pension Income
  •  Income under the head ‘Capital Gains’
  •  Income from multiple houses
  •  No business income
  •  An asset in foreign country or income from a source outside India
  • Agricultural income of more than Rs 5,000
  • Income from lottery or horse racing

Who can use ITR-4S Sugam form?

ITR4S form can be filed by an Individual or Hindu Undivided Family (HUF). This form can be used if you have;

  • Income from business
  • No Capital Gains
  • Agricultural Income which is less than Rs 5k
  • No asset in foreign country or no income from a source outside India
  • Income from one house property

New ITR forms AY 2015-16 Which form to file

Who can use ITR-3 form?

ITR-3 can be used by an assessee who is an individual or HUF (Hindu Undivided Family) and  who is a partner in a firm but does not have income from business or profession or carry business under proprietorship.

ITR3 form can be filed where taxable business income is only from the salary, interest, commission, remuneration or bonus receivable from the firm as a partner.

Who can use ITR-4 form?

ITR 4 form can be used by an assessee who has income from business or profession. This ITR covers all kind of businesses and professions irrespective of any income limit. Assesse can also report his income from salary, house property, lottery winnings, capital gains, speculative income i.e. horse race in ITR4 together with the Business Income.

To know about the changes in the new ITR forms AY 2015-16 and to download ITR1/ITR2/ITR2A/ITR4S for Assessment Year 2015-16 ..Click here..


Latest update : E-filing of ITR forms 3, 4 and 7 has been enabled.


(Image courtesy of hywards at FreeDigitalPhotos.net)

  • Dikshant Yadav says:

    I have a Income for A.Y 2017-18 from Fees From Professionals Services and A Commission Income. I need to know where to show Commission Income. Can I include it in The Turnover u/s 44AD or show it separately. Please Help me in showing my Income.

  • T.D says:

    Hi,
    I need your advice. My only source of income is an FD besides writing ebooks and selling them in US for royalties that I get here and there every year by NEFT into my bank account (hardly worth mentioning). The total income from these two falls under the exempted tax limit of 2.5 lakhs. But once in DEC’16 TDS got deducted on my FD because I was late in submitting by 15G. Please advice, which ITR form should I fill to claim back a refund on it? Would my income from US create any questions? I do pay tax on it in US.

    • Dear T.D.,
      May I know your Residential status?
      If you have to mention Royalty income in ITR form then ITR 2 can be considered.
      If you are Resident Indian, then you need to include royalty income in ITR. But if you have already paid taxes on them in US then you can take benefit of double taxation avoidance agreement (DTAG).
      You can also get TDS deducted as Refund (if any) by filing your ITR.
      Suggest you to consult a CA.

      • T.D says:

        Thanks for replying.
        I’m a resident. Never been out of India. And what you said about DTAA, I googled and see that all the resident Indians mention they have mostly been out of India for a certain period of time to earn that foreign money. So now I’m confused because i earn it staying within India. And still if it applies to me as well, then does it mean I’ll get the US Taxed amount back from Indian Govt. Or that the Indian govt won’t tax me again on same foreign income? Please clarify.

        • Dear T.D.,
          You may have to pay only differntial tax rate.
          For example, if you have paid taxes @ 20% in USA and if your fall in 30% tax bracket here in India, you may have to pay balance 10% taxes.

          • T.D says:

            Thank you for all your help. I appreciate the time you took to answer my queries.
            Thanks again.

  • P Verma says:

    Dear Sir,
    Dear Sir,
    I have to fill ITR IV as I have income from tuition. I have done 1 FD of Rs 2 Lac in Feb 2017 for 6 months period.
    My question is that when I will fill my ITR IV and I will show cash balance in hand in ITR IV then.
    ? Will I show only Rs 1 Lac in cash balance in hand in ITR IV (As I have today 30 Mar 2017 only Rs 1 Lac in Bank) OR
    ? Will I show Rs 1 Lac + Rs 2 Lac of FD = 3 Lac in cash balance in hand in ITR IV.
    P Verma

  • Vijay says:

    Hi Shreekanth,
    Any clarity regarding this will be highly appreciated.

    I get monthly fees (in lieu of salary) after deducting TDS. I also get form 16A from the Employer.
    Is this income to be shown under ‘Salary’ or as income under ‘Income from other sources’ while filing returns?
    I show FD interest under ‘Income from other sources’.
    I don’t get any salary or any other income apart from these.
    Can I file returns thru ITR-1?

    • Dear Vijay,
      Is your TDS being deducted u/s 194 J (Professional fees)?
      I believe you can file ITR 2 or ITR 4.
      (If ITR 2 it can be considered as income from other sources, in ITR 4 it is professional fee as business income).

      • Vijay says:

        Thanks for a prompt response. You are doing a wonderful job.
        Yes the TDS is u/s 194J.
        Last 2 returns (AY2015-16 and AY2016-17) have been filed thru ITR 1.
        All my income has been shown as “Income from other sources”.
        Everyone I ask says ITR 4.
        Yet the above 2 returns have been filed thru ITR 1 and the refunds have been made without any issue.
        I want to know for sure if this is some oversight or I can safely file the return thru ITR 1 for AY 2017-18?
        Thanks once again.

  • Rohit Sharma says:

    Dear Sir,

    i earn income from tuition it is about 8lac per annum. which itr form should be file and also let me know that i have make my balance sheet and profit and loss a/c or show only tuition income. please guide me

    thanks

    Rohit Sharma

  • ATUL says:

    HI SIR
    My mom is housewife and her income is from fd interest.WHAT KIND OF RETURN I HAVE TO FILLED

  • dee says:

    Hi Sreekanth,

    I am NRI and having investment in shares and get rent from India property, which ITR can i fill?

    Regards,
    Deepak

    • Sreekanth Reddy says:

      Dear Dee,
      If you are just holding shares and have not sold them then there is no incidence of capital gains in your case.
      You can file ITR -2.

  • AKSHAYA KUMAR DEO says:

    i am a lic commission agent my income below 5 lakh which itr i filed in the A.Y. 2016-17

  • Tarun says:

    I am a salaried employee. I invested in mutual funds (ELSS) five years ago. I redeemed partial amount last year, my approximate gain was Rs 25000. I declare this gain in exempt income section(row 27) in ITR1.
    I came to know that for capital gains ITR2 should be used. Do I need to revise my return or it is okay with ITR1. My ITR was succesfully processed for FY 15-16.
    Kindly advise.

  • Shyam Chandra Sharma says:

    I have filled form ITR – 1 instead of ITR – 4, AY 2015- 16 and AY 2016 – 17 (Processed is done, TDS return by NEFT). Is there is any option to rectify / revised from ITR – I to ITR – 4. A TDS certificate 194J is also available with me. If any section for that please tell / mail me.

  • Preeti says:

    Hi sir,
    My mom is a widow and home maker..
    2012-13 she had interest from Fd and small retail trading of coconuts
    2013-14 Interest+business+real estate and marriage broker commission
    1023-14. Interest+ some lakhs from son in law who stays in U.K.+sold one property(5.5lakhs)

    2014-2015 interest + sold (6lakhs)and bought (7lakhs)another property
    2015-16 interest+capital gains from short term and long term shares
    So please let me know which are ITR she has to file??
    Thank you

    • Dear Preeti .. Kindly take help of a CA.
      She can file ITRs of last two Assessment years only. These are treated as belated returns.
      In case if she has received any tax notices, based on such notices she can file ITR beyond the last two years.

  • Vanita says:

    Dear Sreekanth,

    I am staying in my own apartment. I have also bought an apartment which is under construction and for which I have taken a home loan. Which ITR form should I fill and how can I avail deductions on the loan amount paid back?

    Thanks,
    Vanita

  • RAJESH says:

    Dear Shrikant,
    My wife is a housewife but she run the beauty parlour at home only.
    She is earning up to 2.0LPA which ITR to be filled by us

  • Surykant says:

    If a person has income from Salary & he has earned in come from tuition fees. I want to know that a person can file his return in ITR4S?

  • Rushikesh sojitra says:

    Hi m rishi. . I am just a farmer, we have mango trees on our land. I have only one time agricultural income of around 10 lakhs annually.. which form should I fill ? And will I get tax redemption?

  • Rohit says:

    Hi,

    I was on a break from March to July in the year 2015. August 2015, I took up a job and now I have to file income tax return from Aug 15 – March -16. How do I do that? During the period when I was on a break – there was no income for me.

    Thanks.

  • neha a das says:

    Hi,
    My mom is housewife and her income is from fd interest. But she owns one house whose property tax she pays.
    Which itr i can file and how to exempt the property tax from same

  • Avinash Kumar says:

    Hi Sreekanth,

    I’m working in a private service-based firm, and just wanted to know which ITR should I file?
    Will it be ITR 1 or ITR 2, as both of them are eligible for salaried individuals. Please let me know your thoughts on this.

    Thanks,
    Avinash

  • rohit sharma says:

    sir i m working in the bank,,so could u plz tell me which itr form should i fill ????

  • BHARATI KALASKAR says:

    I AM HOUSEWIFE AND WORKING AS LIC AGENT THEN PLEASE SUGGEST ME HOW TO FILLING MY RETURN

  • Nithin says:

    I have have STCG and no other source of income

  • R C AGRAWAL says:

    what is limit of exempted income for ITR1 if ppf intrest yearly more than 5000 and M/F dividend reinvestment plan income more than 5000 ITR1 eligible

  • Garry says:

    Sir,I have income (about 2 lac) from” fees for professional and professional services ” with TDS deducted and deposited by employer under section “194J” and income from salary with TDS deposited unde section 192. Which ITR should I file?

  • rahul raj says:

    My income from house rent only.. Which ITR form should be filed? Thanks

  • saroj says:

    i am a mutual fund advisor , which ITR form i need to file, please suggest.

  • Chandana Reddy says:

    Dear Mr.Srikanth,

    My sister is a housewife whose income is ONLY interest from FDs. Which ITR form should be filed for her? Thanks for your help and advice.

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