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income tax return form assessment year 2015-16
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ACKNOWLEDGEMENTAY 2015-16. I I II I I I I I I I II I. I I I I. IIIIIIIIIIIII . Received with thanks from a retum of income in. ITR No. 1(SAHAJ) »o 2 o 30 4S (SUGAM) O 4 o 5»O 7o for assessment year 2015-16, having the following particulars. AT FIRST NAME. A2 MIDDLE NAME. LILILOITTUU A3 LAST NAME. A4 PERMANENT. ITR Forms for Assessment Year 2015-2016 (Income Tax Return E-Filing Forms). By cleartax-team on April 16, 2015 in Income Tax. UPDATE : if you are looking for Income Tax Return forms for 2016(FY 2015-16, AY 2016-17), click here. *********. The Income Tax Department has released the ITR (Income Tax Return) Forms. ITR, Description, Excel Utility, Java Utility. ITR 4, For Individuals & HUFs having income from a proprietory business or profession. ITR 5, For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing ITR-7. ITR 6, For Companies other than companies claiming exemption under section 11. Taxpayer Submitting Income Tax Return for Assessment year 2017-18 to ensure Incomes/Receipts and deduction claimed matches with Form 16/16A issued by deductor.Electronic Verification Code (EVC) can now be generated by pre-validating your Bank Account details of Punjab National Bank, United Bank of India,. CBDT has today released the Revised Income Tax Return Forms ITR-1, ITR-2, ITR-2A and ITR-4S to be filed for the Assessment Year 2015-16 i.e. for the financial year 2014-15. Update: Remaining Income Tax Returns i.e. ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7 have also been released by CBDT on 31st July,. These instructions are guidelines for filling the particulars in this Return. Form. In case of any doubt, please refer to relevant provisions of the Income- tax Act, 1961 and the Income-tax Rules, 1962. 1. AssessmentYearfor which this Return Form is applicable. This Return Form is applicable for assessment year 2015-16. only,. What is Income Tax Return? Ans. The particulars of Income earned by a person in a Financial Year is ascertained and declared and taxes to be paid on such income are communicated to the Income-tax Department through a Form, which is known as “Income Tax Form" or “Income Tax Return". However. Filing ITR after the due date is called belated return. It can be filed before the end of the relevant assessment year or before completion of the assessment, whichever is earlier. Dr Suresh Surana, Founder, RSM Astute Consulting Group, informs, "If an individual misses the deadline of August 5, 2016 for filing return. Every year, July 31 is the date by which taxpayers are supposed to file their I-T returns (ITR). The deadline for the assessment year 2016-17 which pertains to income earned in the financial year 2015-16 was extended till August 5, 2016. Suraj Nangia, Partner, Nangia & Co, says, "With less than 3 per cent. Last Day to Join Online GST Certification Course by TaxGuru CA Pardeep Kumar Income Tax Return Forms Assessment Year 2015-16 [Notification No. 49/2015/ F.No.142. Although the last date to file ITR for individuals is July 31, it helps to start work on your income tax return now so that one is not rushed at the last minute. The last day to file Income Tax Return (ITR) for the financial year 2016-2017 was yesterday.. It means if you want to file the return for FY 2014-15, the relevant assessment year is 2015-16 and so return can be filed till 31st March 2017 and likewise if you want to file the return for FY 2015-16 ,the relevant. Taxpayers filing their income tax returns are required to determine which type of income tax return (ITR) form to file before actually filing their returns.. The ITR-2A form was introduced for the assessment year 2015-16 and is a new income tax return form that can be used by a Hindu Undivided Family (HUF) or an individual. Income tax department released both Java utility and Excel Utility for Online filing of ITR-4 much earlier than compared to last Assessment Year. Following can use ITR -4 to file their Income tax Return. Persons having - Income from Proprietory business or profession. Here, Person means " Individual & HUF". If you are an investor and trader, you can show trading under business income and investments as capital gains on the same ITR 3 form..... In the current Ass. year (2015-16) my income (Rental & Bank FD's) are less than my nil taxable income and I don't want my Non Speculative loss getting offset with my current income. New ITR Forms 2015. The government has finally notified the new ITR forms for filing income tax returns for the Assessment Year 2015-16. As per the notification by the government there will be minor changes in the applicability of ITR 1 SAHAJ form, ITR 2 and a new form ITR 2A will be introduced. ITR. Income Tax Return Form for Assessment year 2015-2016 by Vishal Vijay Gupta and Co. for E-filing, Manual Filing. Electronic Filing of Income Tax Returns for 2015-16 Commences; ITR 1-Sahaj, 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business; ITR 4S - SUGAM can be Used by an Individual or an HUF Whose Income Includes Business Income Assessable on. 10 min - Uploaded by Taxes IndiaHow to file income tax return for AY 2015 16 How to file income tax return for Assessment. Having determined the ITR filing requirement and the relevant form, it is important to know the filing deadlines. The due date for filing the ITR remains same for the FY 2016-17 as was for the FY 2015-16 i.e. 31st July for individuals with salary, house property and other income. This year, the ITR forms were notified well in. ITR -3, 4, 5, 6, 7 have to be mandatorily e-filed. Penalties for non-filing an income tax return? Under section 271F, the assessing officer may levy a penalty of Rs 5,000 when you have not filed your return by the due date. The due date for filing your Income Tax Return for assessment year 2015-16 is 31st. ITR Form have been released by the Income Tax Department for Financial Year 2015-16 i.e. Assessment Year 2016-17. There are different ITR Forms (Income Tax Forms) for Different categories of taxpayers and the same has been explained below. Each type of ITR Form is in 3 Formats – Excel Utility, new Java ITR Utility. Key Changes in New Income Tax Return Forms applicable for A.Y. 2015-16; Comparison chart of Eligibility of ITR Forms, Important changes like Bank Accounts, Aa… Learn about the simplified income tax returns (ITR) forms for financial year (FY) 2016-17 and assessment year (AY) 2017-18 as well as their applicability.. ITR-3. The old ITR-4 tax form has been renamed ITR-3. If you've e-filed an ITR-3 for FY 2015-16, then you must file an ITR-2 now. The ITR-3 form is to. How do I open ITR-V PDF file which is password protected. Please note that the PDF document is password protected to ensure that it is accessed by the right person.The password to open ITR V is a combination of the PAN number (lowercase alphabet) and the Date of Birth in the format ddmmyyyy. Income Tax Return filing forms for AY 2016-17 (FY 2015-16) are now available for filing IT Return. You can download these new forms and file the IT return. New ITR forms AY 2016-17 / FY 2015-16. Which ITR Form to fill? Income Tax Return Filing AY 2016-17. ITR1, ITR2, ITR3, ITR2A, ITR4S, ITR4, ITR V. Therefore, the assessment year is usually the year that follows the year in which income is earned. The assessment year is 2015-16 for income earned during financial year 2014-15. Only forms ITR-1, ITR-2A, ITR-2 and ITR-4S have been announced by the Central Board of Direct Taxes (CBDT), the apex. Income Tax Return In India - FY 2014-15 (AY 2015-16) – ITR Forms 1, 2 and 4S Simplified – Tax Payers Given Convenience. Every year the Ministry of Finance body CBDT announces the ITR forms for the relevant Assessment Year (presently AY 2015-16). For the same, on April 15, 2015, the CBDT has. In case the income of the spouse or minor child is to be clubbed in the income of individual, he/she can file return in ITR 1 if such income to be clubbed falls under the above applicable criteria. 2. ITR 2A: Form ITR 2A was introduced in the Assessment Year 2015-16. This form can be used by individuals or Hindu Undivided. 6. ITR - 5 · For firms, AOPs and BOIs. ( Instructions ). 7. ITR - 6 · For Companies other than companies claiming exemption under section 11( Instructions ). 8. ITR -7 · For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) ( Instructions ). Yes. □ No. If Yes, furnish the following information below. (1) Date of furnishing of the audit report (DD/MM/YYYY). /. /. (2) Name of the auditor signing the tax audit report. (3) Membership no. of the auditor. (4) Name of the auditor (proprietorship/ firm). (5) Permanent Account Number (PAN) of the proprietorship/. Download ITR forms SAHAJ (ITR-1), ITR-2A, ITR-2, SUGAM (ITR-4S) and ITR-V with Excel formulas for auto compilation of tax return for Assessment Year 2016-17 and Assessment Year 2015-16. The income tax department has notified tax return forms for non-salaried class, including companies, partners in firms and individuals deriving their income from proprietary business or profession. The Central Board of Direct Taxes (CBDT) has notified ITR 3, 4, 5, 6 and 7 for Assessment Year 2015-16. 1 June 2015. Simplified Income tax return forms proposed for assessment year 2015-16. Background. The Government of India (GOI) has proposed1 to simplify the Income Tax Return (ITR) forms for the tax year 2014-. 15 (Assessment Year 2015-16) which were earlier notified by the Central Board of Direct Taxes (CBDT) on. Users can download the Income Tax Returns (ITR) Forms as provided by the Income Tax Department. The ITR Form-1 Sahaj, ITR-2 Form, ITR-2A, etc. are available. You can also download the instructions before filling up the forms. What to do if you miss the ITR filing deadline. The last date for filing of income tax returns (ITRs) for the assessment year (AY) 2017-18 was 31 July 2017. However, the. However, if you have not filed your return for the 2015-16 fiscal either, then you have time till 31 March 2018 to file the return for it. The new ITR (Income Tax Return) form has been released by the Department of Income Tax for the Financial Year 2014-15, which typically corresponds to the Assessment Year 2015-16. The forms for different categories have been neatly classified in the new ITR form. The ITR form has been made. Income from Salary / Pension; Income from one House property; Income from other sources (excluding winning from lottery & Race horses). SPONSORED LINKS Note: This Income tax Return Form is applicable for assessment year 2015-16 only, i.e., it relates to income earned in Financial Year 2014 -15. Tax Computation. Log into your e-filing account on the I-T department's website, select the applicable ITR form and assessment year, and proceed. For example, if you are filing the return for financial year 2015-16, select assessment year 2016-17. Consequences of filing late returns Missing the deadline or delay in payment. CBDT has notified Income Tax Return (ITR) forms for AY 2015-16. As usual, there are many forms are released. The taxpayers have to correctly choose the relevant form and file the return. Which form to be used? Here is the simplified version. I am a salaried employee. Which form should I use to file my. Most of us file our income-tax (I-T) returns 'online' before the July 31 deadline. Electronic filing (e-filing) is convenient and you can even pay your taxes online. However, filing your returns online does not mean that the process of filing return is complete. If you have added your 'digital signature' while e-filing, then your return. The password for the ITR-V is combination of PAN (in lower case) and Date of Birth in ddmmyyyy format. For example if the PAN is... If the Return of Income for the Financial Year 2015-16 or Assessment Year 2016-17 is filed by you before the due date of filing of Income Tax Return i.e.5 th Aug 2016, and you later discover some mistake, you can file a Revised Return of Income Tax anytime up to 31st March 2017. The revised ITR can be. Filing income tax return (ITR) follow these simple steps to file your return online before the last date. Tax calculator ay 2015-16 – know the basics. www.pwc.in. Government notifies new income tax return forms for AY 2016–17. April 5, 2016. In brief. The Central Board of Direct Taxes has notified Income-tax return forms applicable for the financial year 2015–16 [assessment year (AY) 2016–17]. The key amendments in the forms viz. ITR-5. [pertaining to firm/ association. Today (31st May, 2015), finance ministry of India has released new Income Tax Return Forms (ITR) to be filled for financial year 2014-2015 (assessment year 2015-16). Earlier finance ministry has released new ITR forms, however, due to the controversial issue about disclosing details of foreign trips, it has. Today is the last day for filing your income tax return or ITR for the financial year 2014-15. But even after filing your ITR online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR online. Most of us think that we are done away with our e-filing task as soon. Income Tax Return is a form through which you report the details of your income from various sources and tax paid there onto the Income Tax Department... Suppose, you forgot to file the income tax return for the Assessment Year 2016-17(F.Y. 2015-16) then you could still file the income tax return by way of filing belated. Actually, I came across one of my clients who had suffered a loss of around Rs. 1.72 lakh during FY 2015-16 and failed to file his ITR by 5th of August last financial year, the extended deadline for filing ITR for the previous assessment year. However, his fortunes turned favourable in the financial year ended. CBDT has notified new ITR Forms SAHAJ (ITR-1), ITR-2 and SUGAM (ITR-4S) for AY 2015-16. However the schema for New ITR Forms xml eReturn generation is still awaited. The government has introduced a maximum late fee of Rs 10,000 for delayed filing of income tax return by individuals. However, this fee is applicable with effect from April 1, 2018 and will not apply for returns filed for FY2016-17 or FY 2015-16; After the final submission, verify your ITR. Your ITR wouldn't be. What is an Assessment Year? Assessment Year is one year ahead of Financial Year. For e.g. for Financial Year (FY) starting from 1st April 2015 and ending on 31st March 2016, Assessment Year (AY) is 1st April 2016 to 31st March 2017. i.e. for FY 2015-16, AY is 2016-17. What is known as Previous Year? Previous Year. The eligibility criteria of every Income Tax Return form are governed by a set of rules and conditions. The ITR-3 Form is applicable only to those Individuals and Hindu Undivided Families that can be placed under the following categories. Is a Partner in a firm. ITR3 is an Income Tax form for individuals who are partners in a firm but have no other business under sole proprietorship. Find out more about. on ITR-3? This Return Form should not be used by an individual whose total income for the AY 2015-16 includes Income from Business or Profession under any proprietorship. This is a step by step guide to e-file AY 2017-2018 (FY 2016-2017) income tax returns using forms ITR2, ITR3 and ITR5. This is an updated version of the second part of a guest post Aparna C K. In the first part of the Guide to efile Income Tax Return For AY 2017-18 she covered, creating the efiling login. ITR Form have been released by the Income Tax Department for Financial Year 2014-15 i.e. Assessment Year 2015-16. now, confusion amongst the common people is Which Income Tax Return Form (ITR) should I submit? There are different ITR Forms (Income Tax Forms) for Different categories of. (For Financial year 2015-16(AY 2016-17) belated return can be filed by 31.03.2018 i.e one year from end of assessment year 2015-16 ending 31.03.2016). There are mainly three disadvantage associated with filing belated ITR (i) If as per ITR, your Tax is payable then you have to pay interest on Tax. For instance, if you have earned income in the year starting 1st April 2014 – 31st March 2015, then 2014-2015 is the Financial Year (FY) and year immediately following this Financial Year i.e. 2015-16 is the Assessment year (AY). Moreover, if you are filing an ITR in July 2015 that means you are assessing.
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