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
sir can't I fill itr1?
I am an Nri having only Interest income. which ITR form should I file
Dear Maya..You can file ITR form 1.
sir I work under Nrhm as a doctor on contraual basis..I only get salary that is fixed in our contract (30000 per month).
I have no house,property..only have some FD n saving bank accounts,in which interest is 4000 total.
please tell me which itr form should I fill for this year??
Dear Rajesh,
You can file ITR 4 form (considering your work as a profession)
sir,.
can I fill itr1 or itr4s because itr 4 is not available?
my basic query was( sir I work under Nrhm as a
doctor on contraual basis..I
only get salary that is fixed
in our contract (30000 per
month).
I have no
house,property..only have
some FD n saving bank
accounts,in which interest
is 4000 total.
please tell me which itr
form should I fill for this
year??)
Dear Rajesh,
If your income is on presumptive basis you can file ITR 4s, else file ITR 4 (which will be notified in few days).
Whether your employer deduct any TDS on your income? Did they issue any form 16 or form 16A to you?
If there is no employee - employer relationship then in that case ITR 1 / ITR 2 can not be filed.
sir they give us fix 30000 per and give form 16A as a proof of TDS certificate...
so sir plz tell,what do I do finally?
should i go for form 16 or wait for itr4
Dear Rajesh,
It is better you wait for ITR 4 form and then file using it.
thanks a lot sir
I’m staying abroad. I am in abroad and I don’t have any earning from any employment in India. Though, I’ve earned interest from saving bank account. Also, I have few real state but no earning from those either.
I need to file my ITR. In this case, which ITR form do I need to use?
1) Which form do I need to use if I've just earning from interest on saving bank accounts. I don't have any other earning in India.
2) My current residential status is NRI being staying abroad from last 4 years. Do I need to include my foreign income (current earning) as well while filing ITR in India?
3) While filing return, Which esidential status do I need to mention - "Resident" or "Non-Resident"? How will it impact to the tax calculations and income?
I heard that starting this year, we need to file/report foreign earning (salary etc) as well. Considering this, do I need to file and report it in the same form or we have some other form what i need to use?
Thanks in advance!
Dear ASR,
Kindly go through this article and revert to me if you need more info : Residential Status & NRI taxation.
Thanks Sreekanth!
I went through the article : Residential Status & NRI taxation. Neatly explained and a good knowledge base :)! Thanks for sharing it!
I still have few questions -
1) Still if I want to file ITR, which ITR form should I use?
2) Which residential status do I need to mention – “Resident” or “Non-Resident”? How will it impact to the tax calculations and income?
3) Last year, I filed a return with resident status as "RESIDENT", though my status was NRI. Should I file the rectification now?
Thanks!
Dear ASR,
1 - You can file ITR form 1.
2 - You are an NRI, so have to mention it. The tax rates are same as for a resident indian.
3 - Ooops. It is better to file rectification request. Suggest you to consult a tax expert or a CA.
But ITR-2 has fields to report foreign bank accounts, where ITR-1 doesn't.
Should I use ITR-2 or ITR-1 in this case? Also, rectification need to be filed just for the "Resident Status"?
Thanks in advance!
Dear ASR,
Kindly consult a CA.
Sir please suggest me which form i have to fill up for the assessment year 2015-16,I am a monthly salary paid person in a MNC company & HUF Category having resident in India.
Dear Mrinal,
Are you a Karta of HUF? Do you have any other source of income?
No sir,i am just a private employee working in a MNC company,last year i had filed the ITR-5,but this year there is no option of ITR-5 in the E-filling site,so what form i should fill up for income tax return.
Dear Mrinal,
If you source of income is only from Salary then you can file ITR 1 form.
Dear Sreekanth,
I've earned salary in India till Sept 2014 then on I'm earning salary in foreign country & paying tax for it in foreign country. I also earn interest & dividends in India. My status for 2014-15 is Resident. Please let me know if I need to show the foreign income in India in the ITR. Also which ITR form should I use? Thanks, Satyapalan
Dear Satyapalan,
Suggest you to file ITR 2. You need to report your foreign income under Schedule FA.
Kindly check your Residential status using this calculator.
Dear Sreekanth,
I am not able to see ITR-2 in Quick e-File ITR drop down tab. Is it that ITR-2 can not be filed through Quick e file?
Thank you for replying to my earlier queries !!
Dear Binod,
ITR 2 & ITR 4 have not been made available under this option yet. Lets wait for few more days.
sir, I am a salaried person with no other income. But paying interest on Housing loan which is to be shown as loss.
So if I have to use ITR I, which row i have to use to show loss
Dear Dinesh,
Yes, you can file ITR 1. Income(loss) from house property should be shown under the head ' income from one house property' section.
Dear Sreekanth,
1. I am salaried employee.
2. I am paying housing loan interest and principal first time in FY2014-15.
3. I own a flat with no rent (possession done).
4. I stay with my mom dad and i pay rent to dad 99000 annually.
5. Which ITR form shoul i fill and where do i show home loan intetest exemption in that form?
Dear Rohit,
You can file ITR 1 (assuming you own only one property). You can claim income tax benefits wrt interest payments under 'income from other sources' .
The principal repayments (principal portion of your EMIs) can be shown under section 80c deductions.
Thanks for replying. Further,can u let me know whether i can claim exemption for point 2 & 4 at same time?
Dear Rohit,
If you are showing this property (as possession is done) as SOP then you can not claim HRA.
Dear Sir,
I am a pvt salaried employee and also I have saved some amount (which received form salary) in FD in my saving (Salary) account, and received interest of FD amount in last year 2014-15. and also i fillup form 15G with PAn copy and submitted to Bank, coz, interest amount exeeding Rs. 10000.00 for FY 2014-15 . so have need to shows interest amount in ITR1?, if yes so which section under shows?
Dear Chetan,
Form 15 g is applicable if your expected income is less than basic tax exemption limit.
Yes, you need to show the interest income earned on FDs in ITR 1 under the head 'income from other sources' and pay the taxes / get the refund accordingly.
Chetan,
Do check forn 26AS before filing ITR.