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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Sir,
Please reply my query. Which ITR form I have to use?
I am a state Govt. Employee having one House and receiving dividends from shares.
Dear Srinivas,
You can file ITR 1 form.
i have purchased HDFC MUTUAL FUND in 6/2007.since tax is exempted on LTCG.
If and when i sale this fund, am i required to reflect in tax return. if so how.
2-i have purchased BSL focused equity fund- series 2(u/s 8CCG of ITAct)-GR.REGULAR-
on 26/03/2014. I could't utilised the benifit of this in A Y 2014/2015 in my tax return.Can i do it in A Y 2015/2016 Tax return.
req reply.
Dear Mr Saxena,
1 - Yes this income is tax exempted. But if it is more than Rs 5k then you need to just provide such information in your ITR.
For example: In ITR 1, you can mention it in 'Taxes paid & Verification' sheet, row no 26.
I am a Pvt. company employee and have a house loan above 40 lakhs (started in 2014 only). Kindly let me know if I need to fill this AY's IT returns in ITR1 or 2A?
Dear Supriyo,
Did you take the possession of your property in FY 2014-15? Do you own multiple houses?
No I am took possession of flat in July 2015; but bank loan started from June 2014 and total interest till Apr'15 is 2 lakhs. Is this tax deductible?
Dear Supriyo,
You can claim tax benefits from AY 2016-17 only. You can claim interest on 'prior period' (FY 2014-15) in 5 equal installments for next 5 fin years along with your regular principal or interest payments (subject to aggregate limits).
Which return should be filed for the NRI having business in foreign country. Also provide the details required to file the return.
Dear Amit,
Do you receive the business income in India or in foreign country?
Kindly go through my article : NRI Taxation.
JUST WANTED TO KNOW WHICH ITR FORM TO FILL FOR MY WIFE AS SHE IS HAVING INCOME FROM FIXED DEPOSIT AS A INTEREST AND INCOME FROM BUSSINESS WILL YOU PLZ HELP ME
Dear Ravi,
Is the income from business on Presumptive basis? If yes, ITR4s can be filed, else you may file ITR4. (ITR4 is not yet notified)
where is itr4 form 2015-2016
Dear Joel,
ITR4 has not yet been notified, we have to wait for few more days :)
Sir,
I am salaried employee from central govt.
(A) I have taken home loan which form should I use ?
(B) If gross is > 5 Lacs then whether it is compulsory to fill online ?
Dear Rajiv,
ITR1 can be used. Yes, file it online.
Hi,
I have my PPF interest greater than 5000 and as per the new ITR guidelines I should fill ITR-1. But while trying to file e-return I did not get any section to list the PPF interest as in exempted income.
Please suggest.
Regards,
Abhishek Sinha
Dear Abhishek,
You can provide details of 'Exempted income' in 'Taxes Paid & Verification' sheet in Row no 26.
I have two houses one in in which I am living (self occupied) and one that is let out but have a home loan tagged to it and claiming deduction under section 24. So income from house from houes property in overall a loss (Interest amount greater than rent). Doubt is can I use ITR 1 or have to use ITR 2A.
Dear Manoj,
As you own more than one property, I believe you may have to file ITR2A.
I retired on 30th Sept.2014 from Rly. Department. Form-16 A has not been provided by the Department nor they inform me how much Income.Tax I have to deposit. I have assessed self and deposited the Tax in the Bank. I have the pension & some interest from FD only. Let me know which form I have to file.
Secondly my House wife has some income i.e.2 lakh per year from FD having her PAN. Being a individual, whether she has to file return? If yes then which form she has to used.
Dear Virendra,
You may check if your employer has deducted TDS (if any) by logging into Income Tax Dept website and by accessing Form 26AS.
You can file ITR1 for both the cases.