USES OF NEW ITR FORM 1,2,2A & 4S
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Posted Date : 24-Jun-2015 , 11:31:10 am | Posted By Ankit Gupta
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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. |
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Category :
Income Tax |
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