USES OF NEW ITR FORM 1,2,2A & 4S
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| ITR FORM NO. | WHO CAN USE THIS RETURN FORM | WHO CANNOT USE THIS RETURN FORM |
| ITR-1 SAHAJ | 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 |
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 Gain e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; 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/or91; 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. |
| ITR 2 | This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:- (a) Income from Salary / Pension; or (b) Income from House Property; or (c) Income from Capital Gains; or (d) Income from Other Sources (including Winning from Lottery and Income from Race Horses). 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 where such income falls in any of the above categories. |
This Return Form should not be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes Income from Business or Profession. |
| ITR 2A | This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:- (a) Income from Salary / Pension; or (b) Income from House Property; or (c) Income from Other Sources (including Winning from Lottery and Income from Race Horses). 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 where such income falls in any of the above categories. |
This Return Form should not be used by an individual or a Hindu Undivided Family 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 or 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. |
| ITR 4S SUGAM | This Return Form is to be used by an individual/ HUF whose total income for the assessment year 2015 -16 includes:- (a) Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE of the Act for computation of business income; or (b) Income from Salary/ Pension; or (c) Income from One House Property (excluding cases where loss is brought forward from previous years); or (d) Income from Other Sources (Excluding winning from lottery and Income from Race Horses). Note: The income computed shall be presumed to have been computed after giving full effect to every loss, allowance, depreciation or deduction under the Income-tax Act. 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. |
SUGAM cannot be used to file the following incomes : (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", e.g. Short-term capital gains or long-term capital gains from sale of house'810t shares etc' or (d) Agricultural income in excess of 5,00 i 0; , (e) Income from Speculative Business and other special incomes; or (f) Income from a profession as referred to in sub-section (1) of section 44AA or income from an agency business or income in the nature of commission for brokerage; or (g) Person claiming relief of foreign tax paid under section 90, 90A or91; 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. |
| Author can be reached at | |||||||
| ANKIT GUPTA [TAX ADVISOR] | |||||||
| ankit@taxzippy.com |
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