Itr form
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2015
Hi,
I am a salaried employee in an mnc. I am not clear which form to use to file ITR for assessment year 15-16.
As i read in articles that there are 2 new forms FORM 2 and FORM 2A but in ITR site there are only 2 form visible ITR1 and ITR 4S.
Please clear my confusion which form to use.
Thanks
I am a salaried employee in an mnc. I am not clear which form to use to file ITR for assessment year 15-16.
As i read in articles that there are 2 new forms FORM 2 and FORM 2A but in ITR site there are only 2 form visible ITR1 and ITR 4S.
Please clear my confusion which form to use.
Thanks
29 June 2015
ITR-1 (SAHAJ)
Who can use this Return Form?
This Return Form is to be used by an individual whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary/ Pension; or
(b) Income from One House Property (excluding cases where loss is brought forward from previous years); or
(c) Income from Other Sources (excluding Winning from Lottery and Income from Race Horses)
NOTE: Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories. So if any Income is not falling in the above category then ITR1-SAHAJ can not be used.
Who can not use this Return Form?
This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes:-
(a) Income from more than one house property; or
(b) Income from Winnings from lottery or income from Race horses; or
(c) Income under the head "Capital Gains”; or
(d) Agricultural income in excess of 5,000; or
(e) Income from Business or Profession; or
(f) Loss under the head 'Income from other sources; or
(g) Person claiming relief under section 90 and/or 91; or
(h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or
(i) Any resident having income from any source outside India
Who can use this Return Form?
This Return Form is to be used by an individual whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary/ Pension; or
(b) Income from One House Property (excluding cases where loss is brought forward from previous years); or
(c) Income from Other Sources (excluding Winning from Lottery and Income from Race Horses)
NOTE: Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories. So if any Income is not falling in the above category then ITR1-SAHAJ can not be used.
Who can not use this Return Form?
This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes:-
(a) Income from more than one house property; or
(b) Income from Winnings from lottery or income from Race horses; or
(c) Income under the head "Capital Gains”; or
(d) Agricultural income in excess of 5,000; or
(e) Income from Business or Profession; or
(f) Loss under the head 'Income from other sources; or
(g) Person claiming relief under section 90 and/or 91; or
(h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or
(i) Any resident having income from any source outside India
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29 June 2015
ITR-2
Who can use this Return Form?
This Return Form is to be used by an individual/HUF whose total income for the assessment year 2015-16 includes:-
(a) Income from salary/ Pension
(b) Income from house property
(c) Income from capital gains
(d) Income from other sources (including winning from lottery and income from race horses)
(e) Individuals who qualify as ordinarily resident in India and having any overseas income/ assets etc
Who can not use this Return Form?
This Return Form should not be used by an individual/HUF whose total income for the assessment year 2015-16 includes:-
(a) Income from Business or Profession. For Income from Business or Profession ITR-4 or ITR-4S (SUGAM) is used.
(b) Income from a Partnership Firm. Partner of Partnership Firm are required to file Income Tax Return in ITR-3.
Who can use this Return Form?
This Return Form is to be used by an individual/HUF whose total income for the assessment year 2015-16 includes:-
(a) Income from salary/ Pension
(b) Income from house property
(c) Income from capital gains
(d) Income from other sources (including winning from lottery and income from race horses)
(e) Individuals who qualify as ordinarily resident in India and having any overseas income/ assets etc
Who can not use this Return Form?
This Return Form should not be used by an individual/HUF whose total income for the assessment year 2015-16 includes:-
(a) Income from Business or Profession. For Income from Business or Profession ITR-4 or ITR-4S (SUGAM) is used.
(b) Income from a Partnership Firm. Partner of Partnership Firm are required to file Income Tax Return in ITR-3.
29 June 2015
ITR-2A (New ITR. Introduced from AY 2015-16)
Who can use this Return Form?
This newly introduced return form can be used by the individuals/ HUFs whose total income includes the following:
(a) Income from salary/ Pension
(b) Income from house property
(c) Income from other sources (including winning from lottery and income from race horses)
Who can not use this Return Form?
This Return Form should not be used by an individual/HUF whose total income for the assessment year 2015-16 includes:-
(a) Income from capital gains; or
(b) Income from Business or Profession; or
(c) Any claim of relief/deduction under section 90/90A/91; or (d) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or
(e) Any Resident having Income from any source outside India.
Who can use this Return Form?
This newly introduced return form can be used by the individuals/ HUFs whose total income includes the following:
(a) Income from salary/ Pension
(b) Income from house property
(c) Income from other sources (including winning from lottery and income from race horses)
Who can not use this Return Form?
This Return Form should not be used by an individual/HUF whose total income for the assessment year 2015-16 includes:-
(a) Income from capital gains; or
(b) Income from Business or Profession; or
(c) Any claim of relief/deduction under section 90/90A/91; or (d) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or
(e) Any Resident having Income from any source outside India.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2015
Thanks Sanjay Sir for the information.I don't have income from capital gain(bond,property,mutual funds) and lottery.So that means i have to user ITR1(sahaj). Right ?
29 June 2015
Yes. See the criteria mention above and use ITR accordingly or mention the sources of your Income.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2015
My Source of income is monthly salary and interest from bank(saving and fd).
30 June 2015
You need to file ITR1.
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