CBDT has notified ITR-1, ITR-2, ITR-4S and ITR-V for AY 2015-16. There are several charges in the forms. Important charges are listed below.
- Individual who has any income from source outside India in AY 2015-16 cannot file ITR-1 & ITR-4S.
- Super Senior citizen can now file ITR in paper form even if income is more than Rs 5 lakhs subject to conditions.
- Introduction of EVC for verification of ITR filed.
- E-filing of ITR mandatory if refund is claimed by Individual or HUF.
Changes noted in ITR-1
- If anyone is having Aadhar Number, it needs to be provided in ROI.. Which will be used for EVC system introduced as mentioned above.
- Details of all bank accounts to be provided which includes Bank name, IFSC Code, Name of Joint Holder, if any, Account number, Account balance as on 31st Mar-2015 including the one closed during the year.
Changes noted in ITR-2
- Aadhaar Number needs to be mentioned in ITR if available. It will be used for EVC system.
- In ITR, details regarding Foreign Travel, if any, to be provided which includes, Passport No, Issued at, name of country, number of times travelled and expenditure incurred.
- Details of utilization of amount deposited in capital gain account scheme for years preceeding to last two assessment years to be provided. Details to be provided for year of utilization, amount utilized, amount unutilized lying idle in capital gain account scheme till the date of filing of ITR.
- In case of LTCG & STCG not chargeable to tax to Non-resident on account of DTAA benefit, it is required to furnish Country name, Article of DTAA, TRC obtained or not?
- For Non-resident, Income from other sources, If any, income chargeable to tax at special rate provided in DTAA, It is now required to provide details of Name of Country, Relevant article of DTAA, Rate of Tax, Whether TRC obtained or not?, Corresponding rate of tax under income tax act.
- Details of all bank accounts to be provided which includes Bank name, IFSC Code, Name of Joint Holder, if any, Account number, Account balance as on 31st Mar-2015 including the one closed during the year.
- In schedule FA- Foreign assets disclosure are required to be given.
Changes noted in ITR-4S
- If anyone is having Aadhar Number, it needs to be provided in ROI.. Which will be used for EVC system introduced as mentioned above.
- Details of all bank accounts to be provided which includes Bank name, IFSC Code, Name of Joint Holder, if any, Account number, Account balance as on 31st Mar-2015 including the one closed during the year.
You can download the below documents: