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
I have income from salary and having home loan.
I do not have any Capital Gains.
Which ITR form I need to fill? ITR1 or ITR2A
Dear Rahul..you can file ITR1.
i have income from salary, interest on housing loan on single property, interest on Fds and savings bank accounts & profit on sale of shares & mutual funds. which ITR form should i file?
Dear Gauri,
You can file ITR 1 form.
Are the gains Long Term capital gains??
Dear Sir,
I am a salaried person working in a private company. I have received Rs. 22389 as income from my investment in PPF, Rs. 5116 as interest from my bank FD and Rs. 3560 as interest from my savings bank accounts and long term profit of Rs. 4908 as income from sale os shares for the FY 2014-15.
Please advise which form to fill?
Rgds
Samant Kumar
Dear Samant,
You can file ITR form 1.
Pl inform the following
1. Which ITR form should be filled if income is from house and property and Interest from FD as in case of my wife
2. From which year first time return filer should file return i.e from current assessment year or previous years
3. Which ITR form should be filled if income is from Pension (state govt undertaking) dividends from mutual funds for about Rs 30000/=and Interest from FD .
4. For a state govt undertaking Pensioner which employer catogery is to be filled
5. What is the term deemed to be let out.If the house is occupied for 9 months and vacant for 3 months does income is calculated for full year
Dear Ashok,
1 - ITR 1 (if income from one property only).
2 - I did not get you.
3 - ITR 1.
4 - Govt.
5 - Yes, the house property is considered as it let-out for whole year.
Hi I am Haryana Roadways employee and my tax has been deducted extra. So please suggest which ITR I can filed so that my refund can be received. Thanks Rajesh
Dear Rajesh..if you income is only from salary, you can file ITR1 and can claim Refund (if any).
hi dear sir,
i have income from salary and as well as LIC COMMISION as agent. so which form can i fill? either ITR4 OR ITR1?
YOU MUST FILL ITR 4
Dear Kishan..you can file ITR4.
Hello,
Why ITR 4 ?? kindly explain.
I think ITR 1 also possible because
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 other sources
Thanks
My father has income from pension, bank savings a/c interest, short term capital gains from equity shares and speculative gain/day trading of equity shares.
1. Which ITR form to use ?
2. Can the brokerage charges can be termed as cost of acquisition of shares ?
Dear AKY,
1 - You can file ITR4.
2 - Yes you can consider.
Dear Sreekanth:
Hi: Good Afternoon.
1. I resigned in Feb2014(last year) and filed 2014-15 ITR. My present income is Pension and Savings Bank Account interest from 1.4.2015. Which Form I should use for 2015-16, pls? I am planning to start a new venture next year.
2. This year (June 2015) I sold my Flat in Thane(Mumbai) and bought another Flat in Mumbai with lesser Amount in June itself. Am I to file ITR in 2016-17 ?
I eagerly look forward to your kind response.
Thanks and regards. Govind Rao T
Dear Govind,
1 - You can file ITR1.
2 - Yes you have to file your returns in AY2016-17 too.
Thank you v.m. But I have received Gratuity, PF, 1/3rd of Superannuation Fund ( all tax free ) till Dec2014. Now I am getting Annuity monthly pension (Rs.5837/-) from LIC against 2/3rd of my Sup Fund with LIC ; and EPF pension of Rs.2032/-p.m. i.e . a total monthly pension of Rs.7869/-pm. Apart from this Bank Interest during 2014-15 comes to approx. 25,000/-. These I will show under Salary & income from other sources of ITR-I ;
In ITR-I, Am I also required to show all the bulk amounts of Gratuity, PF, SF, also ; and if so , under which column of ITR-I.
Thanks in advance for your response.
Dear Govind,
If the benefits are taxable then you need to add them with your income and file taxes accordingly.
Kindly read my article - Gratuity & Tax implications.
Dear Mr. Reddy my wife is having income from some consultation work. Which form to be seleted?
Kindly advise.
Dear Krishan..if the income is on a presumptive basis then ITR4S else you can file ITR 4.
Hello Sreekanth,
My mom gets pension along with have other source of income from couple of house properties and FD's in bank. I am planning to file ITR for her this year. Can you please guide me which return needs to be files ( ITR 2A ? ) and also can be filed online for the first time. Please advise.
Regards,
Ravi.
Dear Ravi..she can file TIR 2A.