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)?
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;
(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;
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;
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;
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)
This post was last modified on July 10, 2023 8:53 pm
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View Comments
Hi Srikanth,
Thanks for the wonderful platform. I have income from salary, dividend and interest on FD which form do i need to file. Please advice.
Thanks
Ashish
Dear Ashish..You can file ITR 1 form.
Hello, I am an inservice govt. employee and getting family pension. Which ITR be used for filing IT.
Dear Ramkali..you can file ITR 1.
sir if a person is a NRI (income is not taxable in india) & if he sell his mutual fund bought in india . For this income from mutual fund which ITR form we should use.
Dear Ankur,
Does he/she has any other income?
Sir, I am dentist can I file my return in ITR4S turnover is 5 lakhs
Dear Shubham,
I believe that you may have to file ITR 4.
Dear Sreekanth Reddy,
I have 2 house loans in different city.
1st loan was taken long back
2nd loan was taken during mid of last year (mid of 2014). Under construction, Possession was not done.
While i am providing the investment declaration in my office i have given only the house which i occupied.
Please help me in the below questions...
1) Will i get any tax benefit on the 2nd house loan for the AY 2015-16, which is still under construction.
If i am eligible for tax exception in this case how will i get the same exempted amount?
2) Which ITR form do i need to submit for AY 2015-16.
Please help me in this regards
Thanks
SaiBalaji
Dear Saibalaji,
1 - Kindly read my article on : Under-construction property & Income Tax benefits.
2 - You can file ITR 1. (it depends on your sources of income. kindly go through the points given in the above article)
Dear sir,
I have two houses in same city. One in my name and another is jointly with brother as 50:50. Both houses having home loan and repaying interest and principals. Jointly named house is self occupied and another is vacant for full year 2014-15. Also i have agricultural income more than 5000/-.
Which form i have to fill for ITR AY 2015-16.
How much amount of interest I have claim as MINUS income from house property.
Whether income from second house is to be taken even if it was vacant, if yes, how much amount will be calculated for LOP income,
Dear Rajpal..You can file ITR 2A.
Sir, i have already filed ITR 1, should i file revised itr.
We are paying 3,00,000/- for interest amount towards home loan of jointly named, can we both (myself & brother) claim 1.50 lakh each as interest deduction.
can i claim second home loan interest exemption also.
whether some amount (1/5 of total income from 2nd house property) can be deducted towards maintenance of let out house while taking the rental as income.
Dear Rajpal,
Kindly consult a Chartered Accountant for filing Revised Returns.
Dear Sir,
I want to file return for my father who has retired from public sector job and has tax deducted at source. What ITR should I file it under? Please suggest.
Regards,
Samantha
Dear Samantha,
Is he receiving pension?
If he does not have any other source of income, kindly file ITR 1 form.
Hi,
very nice and helpful article. Please suggest, which ITR form shall I use in below case
- Loss from house property (Deemed let out property case of one house only)
- Short term capital gains from sell of mutual funds
- Interest income from FD.
Dear Ankit..You can file ITR2.
Hello
Kindly explain why ITR 4
ITR1 is also possible ??
THanks
Dear Vishal,
What was your original query??
hi,
i m salary person i have income from salary only. we purchase new flat and payment paid by chque ( no house loan) purchse price Rs. 30 lahks so we have paid tds on purchase of flat.
Dear Shinde,
TDS is applicable if the property value is greater than Rs 50 Lakh right??