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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which ITR form should I use for F.Y. 2015-16, if I have income from salary, interest from NSC, fd and savings bank a/c and one self occupied house property with interst on h.b. loan. How I can claim the deduction and exempted income, please advise.
Dear BISMAYA..You can use ITR1.
Dear Sir,
I retired in november 2014 from PSU. My Income includes
Pension and Interest on FD deposit.
Please advise which ITR form should I fill.
Also where do I have to report , under which section ( if required ) my Terminal benefits ( PF + gratuity ).
Dear AKS,
You can file ITR1. PF & Gratuity fall under 'exempted incomes'. You can report them under 'taxes paid & verification' sheet.
I found this site very helpful.
I worked in two companies, I have two form 16's. In both the forms HRA, Home loan Principle & interest amount, LTA, 80C and 80U. deductions were not considered because I couldn't submit my proofs in time.
Now I want include those deduction my ITR, can you please let me know which form I have to fill and then how to calculate taxable income.
Best Regards,
Satyakumar
Dear Satyakumar,
If you have only salary income, you can file ITR1. Suggest you to make use of any online tax filing portals or consult a CA.
As a PSU employee I have income qualifying for tax exemption under Sec 10 of IT Act. Which forms to use under e-filing?
Dear Shankar..Do you have any other sources of income?
Hi Sreekanth,
I was employed on a contractual basis with an organization as an consultant for six months . Which ITR form would be suitable for me .
Regards
Dear Tridib..You can file ITR4.
I am a house wife. But has fd deposits where interest is more than 10,000. No other income.Which ITR form should I use to file return? Will I get back the money deducted?
Dear Kmk,
You can file ITR1 and claim the refund amount.
I am Salaried.
I have home loan.
I have a recurring deposit but yet to maturity.
Which ITR form is to be used?
Dear Bipul..You can file ITR1.
Dear Shreekanth,
I am have two houses, one is self occupied with 50 % share and other is vacant with 100% share. Which ITR I should fill?
Dear Anand..You can file ITR2A.
Dear Shreekanth
I am retired and offer technical consultancy and have income from pension.
Which ITR form should I fill
Dear Sunil,
If you have income from consultancy work and also pension income, it is advisable to file your taxes through ITR 4 form.
I have worked for an company as an engineering consultant for 1 month and later on i joined & worked as a salaried employee for an another company for the remaining 10 months. So i should fill which ITR?
Additionally, do you also provide financial planner services? if yes, please share your contact and email details?
Dear Nivedit,
Did you receive form 16A from your previous company?
I believe that you can file ITR 4.