Income tax forms for Assessment year 2015-2016 is released by income tax department.
For Assessment year 2015-2016, every person (not being a co.) to e-file (Electronic Income tax Return) the income tax return if its total income exceeds Rs. 5,00,000. While filing the return care should be taken to ensure that you select correct Income tax forms. Please use the comment section at bottom for any query.
Due date for filing Income tax return for non-audit cases for Assessment Year 2015-2016 is 31.08.2015. (Income tax return due date is extended from 31.07.2015 to 31.08.2015)
Please note Income tax department has released income tax forms in PDF format only, these IT forms can be used for filing manual income tax return. Excel based and java based online income tax forms will be released by end of June month. We will upload income tax forms for Ay 2015-2016, as soon as, these forms are available.
Changes in Income Tax form For Ay 2015-16:
1) Assesses are required to mention details of all bank accounts held during the previous year.
Bank account details are required to be mentioned irrespective of whether bank account is closed or open. Following details are required to be mentioned:
- Bank Account number
- IFSC Code
- Adhar Card no.
- Name of the Bank
- Name of Joint holder if any
- Balance in bank account as on 31.03.2015
2) Assesses are required to mention Details of foreign travel and expenses incurred during the year .
Following details are required to be mentioned:
- Country visited during the year
- Number of times visited
- In case of a resident, expenses incurred from own sources, if any, in relation to such travel
Need help in filing income tax return, : – Just send us your form16 , make payment and relax, we will file your income tax return.
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Professional and Business Income Tax return
| Form No | Usage | Excel | PDF File |
| ITR 1 | For Individuals having Salary and Interest Income | ITR1 | ITR1 |
| ITR 2 | For Individuals and HUF’s not having income from Business or Profession | ITR2 | ITR2 |
| ITR 3 | For Individuals and HUF’s who are partners in firm and not having any income from Business or Profession as proprietorship | ITR3 | |
| ITR 4 | For Individuals and HUF’s having income from Business or Profession | ITR4 | |
| ITR 4S | For Individuals and HUF’s having income from Presumptive Business | ITR4s | ITR4S |
| ITR 5 | For Firms, AOPs, BOI, and LLP | ITR5 | |
| ITR 6 | For companies other than companies claiming exemption under section 11 | ITR6 | |
| Instruction | Instructions to file Return ITR-1,2,3, 4 ,4S and 5 | 1,2,3,4S,5 | |
| ITR-V | Where the data of the Return of Income in Forms Saral-II (ITR-1), ITR-2, ITR-3, ITR-4, ITR-5 & ITR-6 transmitted electronically without digital signature. | ITRV |
| Form No | Who can use this Return Form |
| ITR 1 | 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)Who cannot use this Return Form
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| ITR 2 | Income Tax Return Form 2 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 (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.Who cannot use this ITR 2 Return Form: This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes Income from Business or Profession. Read more on: Which Income Tax form to use ITR 1 or ITR2 |
| ITR 3 | For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship |
| ITR 4 | For individuals and HUFs having income from a proprietory business or profession |
| ITR 4S | Sugam – Presumptive Business Income tax Return |
| ITR 5 | For firms, AOPs and BOIs |
| ITR 6 | For Companies other than companies claiming exemption under section 11 |
Use our Income tax calculator for effective Income tax planning.
How is it possible that online return is must when 70% of villagers not known how to e-file, they r now just know how to operate mobile not income tax software in online mode or based,
Subrata, It is correct that most of the people don’t possess the knowledge of operating computer and filing tax return.
It is advisable to hire a consultant ,a Chartered Accountant or a TRP.
They possess knowledge and experience to guide in best way. People who tend to file returns even manually , make mistake leading to queries from income tax department.
Hi,
If an individual is a shareholder, Which ITR form should he use?
No Transactions for the year & net income below exemption limit.
Regards,
Unnati shah
Holding shares of any income doesnot require you to file income tax return. it is mandatory to file tax return if income is above taxable limit.