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Income Tax return forms ITR 1, 2 and 4S for Assessment Year 2015-16 simplified for convenience of the tax payers
June, 01st 2015
                             PRESS INFORMATION BUREAU
                               GOVERNMENT OF INDIA
                                        *****


   INCOME TAX RETURN FORMS ITR 1, 2 AND 4S SIMPLIFIED FOR
   CONVENIENCE OF THE TAX PAYERS; A NEW FORM ITR 2A PROPOSED
   WHICH CAN BE FILED BY AN INDIVIDUAL OR HUF WHO DOES NOT HAVE
   CAPITAL GAINS, INCOME FROM BUSINESS/PROFESSION OR FOREIGN
   ASSET/FOREIGN INCOME; IN FORM ITR 2 AND THE NEW FORM ITR 2A, THE
   MAIN FORM WILL NOT CONTAIN MORE THAN 3 PAGES, AND OTHER
   INFORMATION WILL BE CAPTURED IN THE SCHEDULES WHICH WILL BE
   REQUIRED TO BE FILLED ONLY IF APPLICABLE;AS THE SOFTWARE FOR
   THESE FORMS IS UNDER PREPARATION, THEY ARE LIKELY TO BE
   AVAILABLE FOR E-FILING BY 3RD WEEK OF JUNE 2015;TIME LIMIT FOR
   FILING THESE RETURNS IS ALSO PROPOSED TO BE EXTENDED UP TO
   31.08.2015; ONLY PASSPORT NUMBER, IF AVAILABLE, WOULD BE
   REQUIRED TO BE GIVEN IN FORMS ITR-2 AND ITR-2A. DETAILS OF
   FOREIGN TRIPS OR EXPENDITURE THEREON ARE NOT REQUIRED TO BE
   FURNISHED.

                                                                      New Delhi, May 31, 2015
                                                                            Jyaistha 10, 1937

Forms ITR 1, 2 and 4S for Assessment Year 2015-16 were notified on 15th April 2015
(15.04.2015). In view of various representations, it was announced that these ITR forms will be
reviewed. Having considered the responses received from various stakeholders, these forms are
proposed to be simplified in the following manner for the convenience of the taxpayers:-




1) Individuals having exempt income without any ceiling (other than agricultural income
   exceeding Rs. 5,000) can now file Form ITR 1 (Sahaj). Similar simplification is also
   proposed for individuals/HUF in respect of Form ITR 4S (Sugam).

2) At present individuals/HUFs having income from more than one house property and capital
   gains are required to file Form ITR-2. It is, however, noticed that majority of
   individuals/HUFs who file Form ITR-2 do not have capital gains. With a view to provide for
   a simplified form for these individuals/HUFs, a new Form ITR 2A is proposed which can
   be filed by an individual or HUF who does not have capital gains, income from
   business/profession or foreign asset/foreign income.

3) In lieu of foreign travel details, it is now proposed that only Passport Number, if available,
   would be required to be given in Forms ITR-2 and ITR-2A. Details of foreign trips or
   expenditure thereon are not required to be furnished.
4) As regards bank account details in all these forms, only the IFS code, account number of all
   the current/savings account which are held at any time during the previous year will be
   required to be filled-up. The balance in accounts will not be required to be furnished. Details
   of dormant accounts which are not operational during the last three years are not required to
   be furnished.

5) An individual who is not an Indian citizen and is in India on a business, employment or
   student visa (expatriate), would not mandatorily be required to report the foreign assets
   acquired by him during the previous years in which he was non-resident if no income is
   derived from such assets during the relevant previous year.




6) As a measure of simplification, it has been endeavoured to ensure that in Form ITR 2 and the
   new Form ITR 2A, the main form will not contain more than 3 pages, and other information
   will be captured in the Schedules which will be required to be filled only if applicable.

As the software for these forms is under preparation, they are likely to be available for e-filing by
3rd week of June 2015. Accordingly, the time limit for filing these returns is also proposed to be
extended up to 31st August, 2015 (31.08.2015). A separate notification will be issued in this
regard.

                                             **********

 
 
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