Which form to use for income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2015 SIR,

A senior citizen has following incomes during the financial year 2014-2015.
- Pension income from a municipal corporation
- Interest income from Savings bank account
- Interest income from bank F.D.s
- Interest income from wife, on loan given to her.
- Gift of money received from his elder son from Outside India :
(i) by direct credit in his bank account by his elder son from Outside India
(ii) Also received gift of some CASH AMOUNT from elder son during his visit to India.

Total Gift of money amount = More than Rs. 5,000.

-Q.1 In which ITR Form , will he have to file his Income Tax Return for AY 2015-2016 ?
And why in that ITR form ?

-Q.2 Which is the last date for filing I.T. Return this year?

-Q.3 Is utility for filing income tax return for Financial year 2014-2015 , launched now, or still pending ?

Please, provide your guidance.

CA R SEETHARAMAN online

CA R SEETHARAMAN online

(Expert)
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24 June 2015 1 File ITR 2A.
A new Form ITR 2A has been introduced which can be filed by an individual or HUF who does not have capital gains, income from business/profession or foreign asset/foreign income or have not claimed relief under section 90/90A/91. Simple 3 page form.
2 Last date of filing is 31-08-2015.
3 Utility is launched now.

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2015 INCOME OF GIFTS FROM SON - WHICH ARE EXEMPT INCOME AND IT IS MORE THAN RS.5,000.

THAT IS THE REASON, WHY TO FILE RETURN IN ITR-2A.

BECAUSE A PERSON HAVING EXEMPT INCOME MORE THAN RS.5,000 CANNOT FILE RETURN IN ITR-1.

IS IT LIKE THAT, YOU WANT TO EXPLAIN, SIR?

CA R SEETHARAMAN online

CA R SEETHARAMAN online

(Expert)
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25 June 2015 No, for the current year exempted income can be shown in ITR 1 without any limit. The limit of 5000 is for agricultural income. You can file ITR 1.

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