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Itr filing for ay 15-16

Shyam Sunder Gupta (Chartered Accountant) (27 Points)

14 April 2015

Would like reply if we can efile itr for the ay 15-16 now. If not then upto when expected.

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11 Replies

CA CS Chirag (Practicing CA) (834 Points)
Replied 14 April 2015

as utility is not released by IT department, we cant file return right now, it is expected in end of may or first week of june.

Amrita vyas (chartered accountant) (2600 Points)
Replied 14 April 2015

Yeah......wait untill utilities are realised by the deptt

Vishal Goel (Chartered Accountant) (1688 Points)
Replied 15 April 2015

Manually file kat sakta hai na.?

CA Neha Chauhan (Chartered Accountant) (574 Points)
Replied 18 April 2015

CBDT has amended Rule 12 of Income-tax Rules, 1962 relating to return of income which shall be applicable for the assessment year 2015-16 vide Notification No.4, dated 15-4-2015. Several changes have been made in the conditions prescribing the mode of filing of return of income by different categories of taxpayers. CBDT has also notified new ITR-1, ITR-2 and ITR-4S for the Assessment Year 2015-16.The key changes are as under:-

1) Compulsory e-filing to claim tax refund : Till assessment year 2014-15, individuals or HUFs, who were otherwise not liable to file return of income electronically, could claim tax refund by filing return of income in physical form. However, the new provision makes it mandatory for every taxpayer to file return of income electronically so as to claim refund of taxfrom the department. However, an option is given to super senior citizens claiming income-tax refund, to file return of income in physical form, provided return is furnished in ITR- 1 or ITR- 2.

2) Mandatory reporting of details of bank accounts in India : In new ITR forms, an assessee is required to report details of all bank accounts held by him in India at any time (including opened/closed ones) during the previous year. Further assessee is also required to report the closing balance of accounts as on 31st march of the previous year.

3) Reporting of details of foreign travel : Now details about overseas travel are also required to be furnished in new ITR Forms.

4) Details about foreign income : The new ITR forms seeks more details about the foreign assets. Now details about income from any source outside India are also required to be furnished in new ITR forms.

5) Compulsory e-filing of ITR-3 and ITR-4 : Every individual or HUF who is required to file return in form ITR-3 or ITR-4 shall file the same electronically.

1 Like

Tushar Desai (Manager - Finance & Accounts) (834 Points)
Replied 05 June 2015

Start collecting all your records and documents. Once it is available, you can file it early on to avoid heavy rush on website in last few days.

However, it is likely that the departent will extend the deadline for filing return due to this delay.

harshad b kamble (article) (22 Points)
Replied 08 June 2015

june's first week is also gone, when the utility is coming??

Tushar Desai (Manager - Finance & Accounts) (834 Points)
Replied 09 June 2015

I read yesterday somewhere, may be on ET. The forms are likely to be released by end of June.

CA CS Chirag (Practicing CA) (834 Points)
Replied 09 June 2015

utility will be released soon an time limit will also be extended. wait till that

K P BHANUSHALI (PROPRIETOR) (504 Points)
Replied 09 June 2015

Time limit to file IT returns for the Assessment Year 2015-16 has been already extended to 31st August 2015.

As soon as forms are made available, u can upload return. No need to worry at all.

T & R

babugr (dgm) (489 Points)
Replied 11 June 2015

I understand that in the new ITR forms IT dept. is asking for bank a/c nos. and IFSC codes including those closed in the previous years, what is the purpose behind this ? those who are filing returns are very few i.e. hardly 4 crores out of 125 crores of public, is it IT dept's intention to scrutinise those who paid taxes and subject to mental agony ?, what if you do not provide all the a/c nos.