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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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.
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
Dear Vanita,
You can show your existing property as Self-occupied property and the second property as Let-out one.
You can claim EMIs on home loan (entire interest & principal components) under sections 24 & 80c respectively. Note that you can claim tax benefits after taking possession of the property only.
Which ITR form? - IT depends on your sources of income & other factors. Kindly go through above article.
Read:
Income from house property & tax benefits.
Under-construction property & tax implications.
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
Dear RAJESH ..She can consider filing ITR 4.
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?
Dear Surykant ..Advisable to file ITR - 4.
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?
Dear Rushikesh ..If agriculture is your only source of income, such income is tax exempt.
Kindly read : Is income from Agriculture Taxable?
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.
Dear Rohit,
Whatever is your income that has been earned in FY 2015-16, you can disclose it and file your ITR. (You have to add other sources of income, if any too)
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
Dear Neha,
She can file ITR 1 form.
Property tax : Kindly read this article - 'Income from house property calculation'.
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
Dear Avinash ..Depends on the sources of income. Kindly go through above article.
sir i m working in the bank,,so could u plz tell me which itr form should i fill ????
Dear rohit ..If you have only salary income , you can file ITR 1.
I AM HOUSEWIFE AND WORKING AS LIC AGENT THEN PLEASE SUGGEST ME HOW TO FILLING MY RETURN
Dear BHARATI ..You can file ITR 4.