Income Tax :- What is new ITR Form 2A

Friends,   A new ITR Form 2A has been added by Income Tax Department.   The person who has salary income and interest income and not have any business income, not have any capital gain and not have any foreign assets can use this ITR Form 2A.   Income Tax department has reduced excel sheets in this form in the interest of Assessee.    Only the following sheets are available in the New ITR Form 2A :-

1	PART A - GENERAL	Personal Info., Filing Status	Details of Personal Information and filing status
2	PARTB - TI - TTI	PartB-TI,PartB-TTI,Verification	Computation of total income and tax liability on total income
3	IT	Tax Payments	Details of Advance Tax and Self Assessment Tax Payments of Income-tax
4	TDS	Tax Payments(TDS1 and TDS2)	Details of Tax Deducted at Source on Income [As per Form 16A issued by Deductor(s)]
5	SALARY	Schedule S	Details of Income from Salary
6	HOUSE_PROPERTY	Schedule HP	Details of Income from House Property
7	OS	Schedule OS	Income from other sources
8	CYLA-BFLA	Schedule CYLA, Schedule BFLA	Details of Income after Set off of Current years losses and Brought Forward Losses of earlier years
9	CFL	ScheduleCFL	Details of Losses to be carried forward to future Years
10	80G	Schedule 80G	Details of donation entitled for deduction under Section 80G
11	VIA	Schedule VIA	Deductions under Chapter VI-A
12	SPI - SI	Schedule SPI, Schedule SI	Income chargeable to Income tax at special rates IB [Please see instruction Number-9(iii) for section code and rate of tax]
13	EI	Schedule EI	Details of Exempt Income (Income not to be included in Total Income)
14	SCH5A	Schedule 5A	Information regarding apportionment of income between spouses governed by Portuguese Civil Code

Attachment of Documents with Income Tax Return Forms

First of all we should know what is ITR Forms

Under the Income-tax Law, different forms of returns are prescribed for different classes of taxpayers. The return forms are known as ITR forms (Income Tax Return Forms). The forms of return prescribed under the Income-tax Law for filing of return of income for the assessment year 2014-15 (i.e., financial year 2013-14) are as follows (*):

Return Form	​ Brief Description
ITR – 1​​	Also known as SAHAJ. It is applicable to an individual having salary or pension income or income from one house property (not a case of brought forward loss) or income from other sources (not being lottery winnings and income from race horses).
ITR – 2	It is applicable to an individual or a Hindu Undivided Family having income from any source other than "Profits and gains of business or profession".
ITR – 3	It is applicable to an individual or a Hindu Undivided Family who is a partner in a firm and income chargeable to income-tax in his/its hands under the head "Profits or gains of business or profession" does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm.
ITR – 4S	Also known as SUGAM is applicable to individuals and HUFs who have opted for the presumptive taxation scheme of section 44AD/44AE.​ITR – 4It is applicable to an individual or a Hindu Undivided Family who is carrying on a proprietary business or profession.ITR – 5It is applicable to a person being a firm, LLP, AOP, BOI, artificial juridical person, co-operative society and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) shall not use this form (i.e.,trusts, political party, institutions, colleges, etc.)ITR – 6It is applicable to a company, other than a company claiming exemption under section 11 (charitable/religious trust can claim exemption under section 11​).ITR – 7It is applicable to a persons including companies who are required to furnish return under section 139(4A) or 139(4B) or 139(4C) or139(4D) (i.e., trusts, political party, institutions, colleges, etc.).
ITR – V	It is the acknowledgement of filing of return of income.

(*) The aforesaid table gives only a brief overview of the return forms and is not an exhaustive discussion. For more provisions of applicability/non-applicability of the ITR Forms, the readers should go through the discussion on each ITR Form covered in later part.​

Attachment of Documents with Income Tax Return Forms

​​ITR return forms are attachment less forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income (whether filed manually or filed electronically). However, these documents should be retained by the taxpayer and should be produced before the tax authorities when demanded in situations like assessment, inquiry, etc.

As discussed above, no documents are to be attached along with the return of income, however, in case of a taxpayer who is required to furnish a report of audit under section​ 10(23C)(v),10(23C)(vi), 10(23C)(via), 10A, 10AA, 12A(1)(b), 44AB, 44DA, 50B, 80-IA, 80-IB, 80-IC , 80-ID, 80JJAA , 80LA, 92E, 115JB or 115VW​​​ shall furnish it electronically on or before the date of filing the return of income.

However, due date for the assessment year 2014-15 for filing of audit report under 44AB by an assesse who is not required to submit a report pertaining to international or specified domestic transactions under section 92E has been extended to 30th November 2014 vide ORDER [F.NO. 133/24/2014-TPL], DATED 20-8-2014.​​

ITR FORMS :- Who Can or Who Can Not use ITR 1 (Sahaj), ITR 2, ITR 3, ITR 4S (Sugam), ITR 4, ITR 5 , ITR 6 or ITR 7

Friends,  There is confusion in selection of Income Tax Return Forms.  Many time a person think that he has such income that what ITR form should be submitted by him.  To remove the confusion, the following table in given in the interest of income tax assessee :-

ITR Form No’s	Who can use  ?	Who can not use ?
ITR - 1 (Sahaj)	Return Form ITR – 1 (SAHAJ) can be used by an individual whose total income includes: (1) Income from salary/pension; or   (2) Income from one house property (excluding cases where loss is brought forward from previous years); or   (3) Income from other sources (excluding winnings from lottery and income from race horses or losses under this head).  Further, in a case where the income of another person like spouse, minor child, etc., is to be clubbed with the income of the taxpayer, this return form can be used only when such income falls in any of the above categories.	Return Form ITR – 1 (SAHAJ) cannot be used by an individual: ·         Whose total income for the year includes income from more than one house property. ·         Whose total income for the year includes income from winnings from lottery or income from race horses. ·         Whose total income for the year includes income chargeable to tax under the head "Capital Gains". ·         Whose total income for the year includes exempt income of more than Rs. 5,000. ·         Whose total income for the year includes income from business or profession. ·         Whose total income for the year includes loss under the head "Income from other sources". ·         Who has claimed relief under section 90 and/or section 91 ·         Who is a resident and ordinarily resident and having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India.​
ITR - 2	Return Form ITR – 2 can be used by an individual or a Hindu Undivided Family whose total income for the year includes: ·         Income from Salary / Pension; or ·         Income from House Property; or ·         Income from Capital Gains; or ·         Income from Other Sources (including winnings 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 taxpayer, this Return Form can be used if income to be clubbed falls in any of the above categories. ​	Return Form ITR – 2 cannot be used by an individual or HUF whose total income for the year includes income from Business or Profession.
ITR -3	Return Form ITR – 3 can be used by an individual or a Hindu Undivided Family who is a partner in a firm and income chargeable to income-tax in his/its hand under the head "Profits or gains of business or profession" does not include any other income, except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm. In case a partner of the firm does not have any income from the firm by way of interest, salary, etc., and has only exempt income by way of share in the profit of the firm, he shall use Form ITR – 3 only and not Form ITR-2. ​	Form ITR – 3 cannot be used by an individual or HUF whose total income for the year includes income from Business or Profession under any proprietorship.​
ITR -4S (SUGAM)	Form ITR – 4S (SUGAM) can be used by an individual/HUF whose total income for the year includes: (a) Business income computed as per the provisions of section 44AD or ​44AE; or​; 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 winnings 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 taxpayer, this return form can be used where income to be clubbed falls in any of the above categories. ​	Form ITR – 4S (SUGAM) cannot be used by an individual/HUF: • Whose total income for the year includes income from more than one house property. • Whose total income for the year includes income from winnings from lottery or income from race horses. • Whose total income for the year includes income chargeable to tax under the head “Capital Gains”. • Whose total income for the year includes exempt income of more than Rs. 5,000. • Whose total income for the year includes income from speculative business and other special incomes. • Whose total income for the year includes income from profession as referred to in section 44AA(1). • Whose total income for the year includes income from agency business or income in the nature of commission or brokerage. • Who claims relief under section 90, 90A and/or section 91 • Who is a resident and ordinarily resident and has any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India. In case of a taxpayer who is engaged in any business eligible for the presumptive taxation scheme of section 44AD or section 44AE but he does not opt for the presumptive taxation scheme, then such a taxpayer has to maintain the books of account of the business as per the provisions of section 44AA​​ and has to get his accounts audited. In such a case he cannot use ITR 4S. Such a taxpayer has to file its return of income in Form ITR – 4.
ITR - 4	Form ITR – 4 can be used by an individual or a Hindu Undivided Family who is carrying on a proprietary business or profession. ​	Form ITR – 4 cannot be used by any person other than an individual or a HUF. Further, an individual or a HUF not having income from business or profession cannot use ITR – 4
ITR - 5	Form ITR – 5 can be used by a person being a firm, LLP, AOP, BOI, artificial juridical person , cooperative society and local authority.​	Form ITR – 5 cannot be used by a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or ​139(4D)​ (i.e., trusts, political party, institutions, colleges, etc.).
ITR - 6	Form ITR – 6 can be used by a company, other than a company claiming exemption under section 11 (charitable/religious trust can claim exemption under section 11​).	Form ITR – 6 cannot be used by a company claiming exemption under section 11​ (charitable/religious trust can claim exemption under section 11).​
ITR - 7	​​​Form ITR – 7 can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B)​ or section 139(4C) or section 139(4D)​​​ (i.e., trusts, political party, institutions, colleges, etc.).​	Form ITR – 7 cannot be used by a person who is not required to furnish return under s section 139(4A) or section 139(4B)​ or section 139(4C) or section 139(4D)​ (i.e., trusts, political party, institutions, colleges, etc.). ​

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