income tax return assessment year 2014 15

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Income Tax Return Which form to use for Income Tax Filing

for Asst. Year 2014-15?

The Income Tax Department has come out with all Return Form

applicable for AY 2014-15. The below table will give you details of

usage of forms by Assessee.

Forms Who can use this Return

Form

Who cannot use this

Return Form

ITR-1

SAHAJ

Indian

Individual

Income Tax

Return

This Return Form is to be

used by an individual whose

total income for the

assessment year 2012-13

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

This return form

should not be used by

individual whose total

income includes:

a) Income from more

than one house

property

b) Income from winning

lottery or income from

race horses

c) Income under head

capital gains


from Lottery and Income

from Race Horses)

Further in case of income of

another person like spouse,

minor child, etc is to be

clubbed with the Assessee,

this return form can be used

only if income being clubbed

falls into above form category

d)Income from

Agriculture / Exempt

income of more than Rs

5000/- .

e) Income from

Business or Profession

f) Loss under income

from Other Sources

g) Person Claiming

relief under Section 90

ot 91

h) any resident having

any asset (including

financial interest in any

entity) located outside

India or signing

authority in any

account located outside

India.

ITR-2

For

Individuals

and HUFs not


used by an individual or a

Hindu Undivided Family

whose total income for the

This Return Form


an individual whose



having

Income from

Business or

Profession


includes:

a) Income from Salary /

Pension;

b) Income from House

Property

c) Income from Capital Gains

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

assessment year 2014-

15 includes Income

from Business or

Profession.

NOTE:

A resident assessee

having any assets

(including financial

interest in any entity)

located outside India or

signing authority in

any account located

outside India, shall fill

out schedule FA and

furnish the return

in return electronically

under digital signature

or transmit data

electronically and

submit ITR V

ITR-3


used by an individual or an

Hindu Undivided Family who

is a partner in a firm and

where income chargeable to

This Return Form


an individual whose


assessment year 2013-


income-tax 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. In case a partner in 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 this

form only and not Form ITR-

2.

14 includes Income

from Business or

Profession under any

proprietorship.

ITR-4S

SUGAM



Hindu Undivided Family

whose total income for the


includes:

a) Business income were

income is computed in

accordance with the special

provision under section

44AD and 44AE

This return form

should not be used to

file following incomes

a) Income from more

than one house

property

b) Income from winning

lottery or income from

race horses


b) Income from Salary /

Pension

c) Income from other

source(Excluding Income

from Lottery and income

from race horse )

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

c) Income under head

capital gains

d) Income from

Agriculture / Exempt

income of more than Rs

5000/- .

e) Income from

Speculative Business

f) Income from

Profession

g) Person Claiming

relief under Section 90

ot 91

h) any resident having

any asset (including

financial interest in any

entity) located outside

India or signing

authority in any

account located outside

India


ITR-4



Hindu Undivided Family who

is carrying out a

proprietary business or

profession.

NA

ITR-5

This Form can be used a

person being a firm, LLPs,

AOP, BOI, artificial juridical

person referred to in

section 2(31)(vii), cooperative

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.

This return form


individual and HUF

and Companies

ITR -6

This Form can be used by a

company, other than a

company claiming exemption

under section 11.

This return form


person other than

Companies

ITR- 7

This Form 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).

This return form


person other than

Companies


Manner of filing the return form:

a) By furnishing the return in paper form

b) By furnishing return electronically with digital signature

c) By transmitting the data in the return electronically and there

after submitting ITR V to be send by speed post to Bengaluru.

A resident assessee having any assets (including financial interest

in any entity) located outside India or signing authority in any

account located outside India, shall fill out schedule FA and furnish

the return in the manner provided at either B) or c) above.

From the assessment year 2013-14 onwards all the assessees

having total income more than 5 lakh rupees are required to

furnish the return in the manner provided at B) or c) Also in case of

an assessee claiming relief under section 90, 90A or 91 to whom

Schedule FSI and Schedule TR apply, he has to furnish the return

in the manner provided at either B) or c)

From assessment year 2013-14 onwards in case an assessee who is

required to furnish a report of audit under sections 10(23C)(iv),

10(23C)(v), 10(23C)(vi), 10(23C)(via), 10A, 12A(1)(b), 44AB, 80-IA,

80-IB, 80-IC, 80-ID, 80JJAA, 80LA, 92E or 115JB he shall file the

report electronically on or before the date of filing the return of

income. Further, the assessee who is liable to file the above reports

electronically shall file the return of income in the manner provided

at either B) or c)


Where the Return Form is furnished in the manner mentioned at c),

the assessee should print out two copies of Form ITR-V. One copy of

ITR-V, duly signed by the assessee, has to be sent by ordinary post

to Post Bag No. 1, Electronic City Office, Bangaluru–560100

(Karnataka). The other copy may be retained by the assessee for his

record.

income tax return assessment year 2014 15

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