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
My income includes
Salary
Intraday trading
Short term capital gains
which ITR form I have to use
Dear Anil..Use ITR 4 form to file your taxes.
i am a student and i have rental and interest income which form i should use to file my it return for AY 2015-16( FY 2014-15)
Dear Wadhwa..Is rental income from one property or multiple properties?
I am an LIC agent. During 2014-15 i earned a commission of Rs. 2.3 lakh. Which for I should use for filing IT return and whether I can deduct the expenditure incurred for earning the commission like, trvelling, communication etc?
Dear Jaikumar..Yes you can deduct expenses. But they should be;
* The expense is for the insurance agent work being carried on
* It has been spent fully & exclusively for the purpose of your work
* It is incurred during the tax year
* It is not a capital expenditure or a personal expenditure
Thanks for your advise. Please let me know, which form I should use for filing return? ITR 4 or 4S?
Dear Jai..you can file ITR 4.
I am a salaried employee. I am having home loan and claiming the Interest and Principal. Which ITR form should I use?
Dear Ameet..You can file ITR1.
Hi Sreekanth Thank you for your quick reply.
But actually last year for the same I used ITR-2 form, I hope that wont be a problem if I use ITR-1 this year.
Dear Ameet..It shouldn't be an issue.
I am an employee. I invested in equity and i incurred a loss of Rs 10000 during the financial year 14-15 which form i can use to file IT returns
Dear Hanumantharao..you can file ITR 2.
I retired in 2014. My income includes
Salary
Pension
Interest on bank deposits and NSC
Short time capital gains (shares)
Sir which ITR form I have to use.
Thank you
Dear Mr Rao..You can file ITR2.
I have income from bank interest and dividends from shares. No other income. Income is below Rs.2 lakh. Which form should I use?
Dear Ravi..ITR1 can be used.
Dear Srikanth,
I have only short term capital gains . Which returns form should i file?
Dear saikrishna ..you can file ITR2.
Sir,
I am an ex-serviceman and not employed any where now. My salary and some deposits are the source of income.
What should I write in the ‘Employer Category’? And 'Name of emplyer’ in TDS 1 while filling ITR 1?
Dear mskhurana,
I believe you can mention'Govt' as the category, but I am not sure on this.
Sir, I am salaried and having home loan. Which ITR should I fill ? where to show interest on loan in itr1. Under which sec to show interest on home loan ?
Dear Jacob..You can file ITR1. You can show the interest on home loan under 'income from one house property'.