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
Dear Sir,
My brother is having income from LIC agency commission only.Please suggest which form of income tax return i should file
Dear Barnwal..He can file ITR form 4.
I had stayed in Botswana for 10 months in last financial year where I got Salary after Tax Deduction. Please help me, which ITR form I should fill.
Dear Manish,
Kindly go through my article on NRI Taxation and then revert to me if you need any further clarification.
When can we expect ITR-4 form for ay 2015-16
Dear Chaitali...I have seen an update on IT e-filing website that 'E-filing of ITR 3,4,5 & 7 will be enabled shortly', so lets wait for few more days.
i am having business income as well as agriculture income exceeding 5000 & business income i want filling u/s 44ad i.e 8% income on receipt (textiles business) mine income tax will exceed 10000, i have not paid any advance income tax. which ITR FORM will be applicable for me, what is the last date for filling the return will there be any interest u/s 234 b & 234c.
thanking you
dharmendra kumar jain
9449061035
Dear Dharmendra,
Kindly contact a CA.
I believe that you have to file ITR 4 (which will be made available shortly).
Hi Sreekanth ,
I have both NRI status and india salary that was credited for 2 months.
I was out from india from 23 april 2013 and returned back on 24 jan 2015 . During this period i filed taxes in other country . Before coming to india i did an international transfer of money on 6th jan 2015 in india account .
I got salary of feb and march 2015. Hence i am not coming under any tax slab.
Which ITR form is applicable to me ?
Please let me know .
Thanks
Subuhi
Dear subuhi,
Do you have any other income from sources which are in India? If your income is less than the basic exemption limit then there is no need to file your taxes.
Kindly go through this link : NRI taxation.
Hi,
I have salary income and Professional fees from consultancy too.
Please let me know, which ITR form i need to file.
Please reply asap. Thanks in advance.
Regards,
Pradeep
Dear Pradeep,
I believe that you can file ITR 4.
ITR 1
Dear Sreekant,
I m working with Indian company, they remitt my salary in NRE A/C after deducting TDS.
I had completed my NRE days, so which ITR should fill.
I m working on ship, which was out of india & it was Indian company so they deducted TDS. But salary remitted in NRE A/C. So which ITR I have to fill
Dear Raj,
What is your Residential Status? Kindly go through this link : Check your Residential status for taxation purpose..
I believe that you may have to file ITR1.
Dear Raj,
What is meant by 'completed my nre days'??
Are you rendering services outside India? Is it only part of your salary being received in India?
Is TDS deducted by your foreign employer?
Dear Sreekanth,
Thanks for the informative articles.
I am working abroad (US) but per the Residential Status calculator, I am Resident for India tax purpose. So I am pretty sure I have to file ITR1. My only concern is I have exempt income from PF which is greater than INR 5000. Should I use ITr2 or use the ITR1's exempt cell and declare the amount
Dear Rohit,
You can file ITR1 and show the exempted income in 'Taxes paid & verification' sheet.
Thanks Sreekanth!
Dear Sreekanth,
Kindly let me know which ITR form to be used if I am making money online only like via Google Adsense. I am not salaried person, I am a housewife. I run a blog and all my income comes from online advertising space. Last year, I filed ITR-V, but I guess that was not correct.
Regards,
Vineeta
Dear Vineeta,
Kindly note that ITR V is not a tax filing form, it is a final acknowledgment receipt that you have filed your tax returns.
I believe that you need to file ITR 4 form.
Dear Sreekanth,
Thanks for your reply. Few more questions
1. ITR 4 is not available for downloading on the income tax India website.
2. So when I filed ITR-V last year, how can I correct that mistake?
3. I heard that the last date is 31-Aug for filing your return, but some are saying it's 31-July. Can you please confirm.
Sorry for bothering you again.
Cheers!!!
Dear Vineeta,
ITR 4 is not yet been notified. We may have to wait for few more days. (I also use ITR 4 form to file my taxes).
Aug 31st is the last date to file taxes.
Dear Shrikant
As a NRI , I do not need to disclose foreign Bank details . However when I return to India , do I need to repatriate the foreign funds back to India or can I leave it there as I may not need those funds for now.
Regards
Sheila Murthy
Dear Sheila,
Yes, it is your choice to leave them or not. Once you become a Resident Indian, you may have to declare your income from the assets located outside India in your Income Tax Returns.