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.
thanks for this information.
I have a question. I have purchased company shares of a bank in France and I receive Dividend on it. So is this Foreign income? Which ITR form do I choose in this case?
Dear Mona,
Did you receive the dividend income in India?
Also, the type of ITR form depends on your other incomes too..kindly refer to the chart given in the article. I believe that you need to file ITR-2 form (since you have Dividend received from a foreign company).
I receive dividend in an indian bank account. I do not hold a bank account with the foreign bank . The shares are in a demat type of account with the foreign bank.
Dear Mona,
I believe that ITR2 is applicable in your case.
I Have to file a return in representative capacity, of my son who left to US. Last year he had salary income from an IT Co., in India. Please let me know which form should I file and if that has to be done Online or Offline.
Dear Suchaitanya,
Kindly refer the points mentioned in the article.
If he has only salary income, then ITR-1 is applicable. You may file it online.
Yes Sreekanth, he only has Salary income. After going through ITR - 1 I find nothing as to mention that I would be filing the return in representative capacity. Pls guide.
Dear Suchaitanya,
You can file the Returns online, do note that you need to mention NRI Son's foreign address in ITR.
You can then take print of ITR V acknowledgment, sign it by yourself and you may attach an authorization letter (signed by your son) and send to to CPC bangalore address. (Provide your PAN no at the place of your signature)
Thank you very much.
If I file it online, at declaration page do I have to mention my name or my son's name? If I have to mention my Son's name, can I sign it? Or I will have give my name only and sign it. This is the doubt I got after trying to file online.
Actually, ITR 2 allows income from abroad, but why should I report my US income to India? India govt has no business knowing that! Actually, they have NO right or jurisdiction to ask!
I just want to know which ITR form to report ONLY INDIA-SOURCE INCOME for NRI, and since nobody can answer that, it seems India government looking like stupid monkeys again as usual. Sorry, Sreekanth, but I could not help joking. They really look like joke with this.
Dear Madhula,
You are correct. Kindly understand this way..
Foreign Income of a non resident Indian (NRI) is not taxed in India,. But, if you are a resident Indian and have foreign income (e.g. from investment, rent on property or payment of services rendered abroad), then such income will be added to your income for tax purpose.
So, depending on your income type (rental income/FD interest/capital gains/business etc), you can choose respective ITR form.
Kindly read my article : NRI Taxation rules
Mr Sreekanth,
All 4 of those forms you mention say you cannot use if you have income/assets outside India.
Hello? ALL NRI have asset/income outside India!
Which form is for us??
For income from salary and bank interests (no agricultural income or any other income) and one overseas business trip sponsored by employer, what would be the return form? Is it ITR-2A (to provide passport number) or ITR-1 (do not need to provide passport number)?
Dear Atilesh,
You can use ITR-1 to file your taxes.
Excellent article . Useful Information.
Thanks Prasad :)