New & Revised ITR Forms for FY2014-15 / AY 2015-2016 Released now

New and Revised ITR Forms-FY-2014-15, AY2015-16New & Revised ITR Forms for FY2014-15 / AY 2015-2016 Released now

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 now issued revised ITR Forms. These forms are effective from this assessment year itself. What are the changes done in ITR Forms for FY 2014-2015? Which ITR form you should fill if you are salaried income or if you have capital gains or income from business or profession?

What are the New and Revised ITR forms released now?

The finance ministry has released ITR-2 and ITR-2A forms. These would have 3 pages and other details needs to be filled in schedules. It also gave some exemptions for ITR-1.

Also Read: Step-by-Step guide on how to file Income Tax Return Online

What are these Revised and New ITR Forms ITR-2 and ITR-2A and what are the changes in other forms?

Earlier ITR forms had controversial disclosure of details of foreign visits was indicated, hence new forms and exemptions to existing forms are made. Below are the revisions in ITR forms.

  • ITR-2A has to be filled by individual / HUF who does not have capital gains, income from business or profession, foreign assets/foreign income.
  • Now, under these 2 ITR forms, you need to disclose only passport number, if available.  Details of foreign trips not required to be furnished.
  • Bank account details needs to be furnished. Instead of balance amount in such accounts, IFSC code and account number of all current and SB Accounts held during the previous financial year to be filled.
  • Salaried individuals need to fill ITR-1 or ITR-2 who does not have income from business or profession.
  • Currently, individuals having income from more than one house property and capital gains are required to fill ITR-2. Considering that the majority does not have capital gains, ITR-2A is introduced for such individuals. If you are salaried individuals and have income from more than one house property, ITR-2A to be filled now.
  • Individuals having exempt income without any ceiling on income (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), it added.
  • Software upgradation is currently in the process, hence IT Return deadline is extended to 31st August, 2015.

Also Read: How to file income tax return for previous year if you have missed to file earlier?

Confused, revised ITR forms in simple terms

  • New ITR-2 and ITR-2A are introduced.
  • If you are individual/HUF having income from more than one house property and do not have capital gains, you can fill ITR-2A.
  • If you have capital gains too, fill ITR-2.
  • Under both cases you need to fill Passport number along with bank details held in the previous financial year.
  • Individuals having exempt income without any limit (other than Agriculture income) can fill ITR-1.
  • ITR filing deadline extended to 31-August-2015.

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New & Revised ITR Forms for FY2014-15 AY 2015-2016 Released now

Suresh KP


  • Sham


    I am trying to file the returns online using ‘’ portal. But I do not see the drop-down item value for AY 2015-2016. Can we file online this time?


    • Sham, Currently new IT forms are being uploaded, it may take some more time. Hence IT returns filing date extended to 31st August, 2015. You can try after a week.

  • kamal chandra kapoor

    what is date when new or revised itr-1 form will be released. we are hearing that it will soon shortly. Thanks,

    R-76,Shivalik Nagar

  • Subhash Joshi.

    I have already submitted my returns last week of May 2015 . Now income tax department has released new forms . Now what I should do in this matter ? Kindly let me know what steps I can take ? I am a retired person.
    ——— Subhash Joshi.

  • Dhruv V

    hey Suresh,

    If one person has no other income except salary/pension, fixed deposits, can he still file ITR-1 like previous years without having to file ITR 2A?

  • KPF Solomon


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