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
Filing your Income Tax Return (ITR) is not just about meeting deadlines—it’s about choosing the…
Retirement planning in India is often misunderstood. Many people think any long-term savings or investment…
You’ve probably seen the same property quoted at different prices. One person says ₹60 lakh,…
Buying insurance is easy. Getting your claim settled—that’s where the real test begins. For any…
Gifting immovable property—like land, plots, or houses—is super common in India. Families often do it…
Most people believe that investing alone is enough to create wealth. But in reality, many…
This website uses cookies.
View Comments
I have a Income for A.Y 2017-18 from Fees From Professionals Services and A Commission Income. I need to know where to show Commission Income. Can I include it in The Turnover u/s 44AD or show it separately. Please Help me in showing my Income.
Dear Dikshant ..You may consider using ITR 3 form.
Read : ITR Forms AY 2017-18.
Hi,
I need your advice. My only source of income is an FD besides writing ebooks and selling them in US for royalties that I get here and there every year by NEFT into my bank account (hardly worth mentioning). The total income from these two falls under the exempted tax limit of 2.5 lakhs. But once in DEC'16 TDS got deducted on my FD because I was late in submitting by 15G. Please advice, which ITR form should I fill to claim back a refund on it? Would my income from US create any questions? I do pay tax on it in US.
Dear T.D.,
May I know your Residential status?
If you have to mention Royalty income in ITR form then ITR 2 can be considered.
If you are Resident Indian, then you need to include royalty income in ITR. But if you have already paid taxes on them in US then you can take benefit of double taxation avoidance agreement (DTAG).
You can also get TDS deducted as Refund (if any) by filing your ITR.
Suggest you to consult a CA.
Thanks for replying.
I'm a resident. Never been out of India. And what you said about DTAA, I googled and see that all the resident Indians mention they have mostly been out of India for a certain period of time to earn that foreign money. So now I'm confused because i earn it staying within India. And still if it applies to me as well, then does it mean I'll get the US Taxed amount back from Indian Govt. Or that the Indian govt won't tax me again on same foreign income? Please clarify.
Dear T.D.,
You may have to pay only differntial tax rate.
For example, if you have paid taxes @ 20% in USA and if your fall in 30% tax bracket here in India, you may have to pay balance 10% taxes.
Thank you for all your help. I appreciate the time you took to answer my queries.
Thanks again.
Dear Sir,
Dear Sir,
I have to fill ITR IV as I have income from tuition. I have done 1 FD of Rs 2 Lac in Feb 2017 for 6 months period.
My question is that when I will fill my ITR IV and I will show cash balance in hand in ITR IV then.
? Will I show only Rs 1 Lac in cash balance in hand in ITR IV (As I have today 30 Mar 2017 only Rs 1 Lac in Bank) OR
? Will I show Rs 1 Lac + Rs 2 Lac of FD = 3 Lac in cash balance in hand in ITR IV.
P Verma
Dear Verma .. FD is not a cash balance.
Thank you very much Sir.
Hi Shreekanth,
Any clarity regarding this will be highly appreciated.
I get monthly fees (in lieu of salary) after deducting TDS. I also get form 16A from the Employer.
Is this income to be shown under 'Salary' or as income under 'Income from other sources' while filing returns?
I show FD interest under 'Income from other sources'.
I don't get any salary or any other income apart from these.
Can I file returns thru ITR-1?
Dear Vijay,
Is your TDS being deducted u/s 194 J (Professional fees)?
I believe you can file ITR 2 or ITR 4.
(If ITR 2 it can be considered as income from other sources, in ITR 4 it is professional fee as business income).
Thanks for a prompt response. You are doing a wonderful job.
Yes the TDS is u/s 194J.
Last 2 returns (AY2015-16 and AY2016-17) have been filed thru ITR 1.
All my income has been shown as "Income from other sources".
Everyone I ask says ITR 4.
Yet the above 2 returns have been filed thru ITR 1 and the refunds have been made without any issue.
I want to know for sure if this is some oversight or I can safely file the return thru ITR 1 for AY 2017-18?
Thanks once again.
Dear Vijay,
ITR 4 can be a better option.
May be you can cross verify with a CA and file your ITR this time around!
Thanks Sreekanth,
It will be ITR1
and only if I have to claim any deduction such as conveyance etc,
it would have to be ITR4.
Sorted. :-)
Dear Sir,
i earn income from tuition it is about 8lac per annum. which itr form should be file and also let me know that i have make my balance sheet and profit and loss a/c or show only tuition income. please guide me
thanks
Rohit Sharma
Dear Rohit,
ITR 4 or ITR 4S should be fine. Kindly take help of a CA and file your taxes.
HI SIR
My mom is housewife and her income is from fd interest.WHAT KIND OF RETURN I HAVE TO FILLED
Dear Atul,
She can file ITR 1.
Read: Do I need to file ITR?
Hi Sreekanth,
I am NRI and having investment in shares and get rent from India property, which ITR can i fill?
Regards,
Deepak
Dear Dee,
If you are just holding shares and have not sold them then there is no incidence of capital gains in your case.
You can file ITR -2.
i am a lic commission agent my income below 5 lakh which itr i filed in the A.Y. 2016-17
Dear AKSHAYA ..You can file ITR 4.
I am a salaried employee. I invested in mutual funds (ELSS) five years ago. I redeemed partial amount last year, my approximate gain was Rs 25000. I declare this gain in exempt income section(row 27) in ITR1.
I came to know that for capital gains ITR2 should be used. Do I need to revise my return or it is okay with ITR1. My ITR was succesfully processed for FY 15-16.
Kindly advise.
Dear Tarun,
It is ok to disclose exempt income using ITR1.
I have filled form ITR - 1 instead of ITR - 4, AY 2015- 16 and AY 2016 - 17 (Processed is done, TDS return by NEFT). Is there is any option to rectify / revised from ITR - I to ITR - 4. A TDS certificate 194J is also available with me. If any section for that please tell / mail me.
Dear Shyam Chandra ..It is a defective return. If you have received any notice then you can rectify the ITR. Kindly consult a CA regarding this matter.