Shruti Agrawal

Shruti AgrawalINTRODUCTION: For the financial year 2014-15 i.e. assessment year 2015-16, income tax department has issued a new Form ITR 2A. The reason for this form is that ITR 1 is very basic form in which very limited details are required to be furnished and only a limited salaried taxpayer are allowed to furnish this form. Due to its limitation Taxpayers has to File ITR 2 which is very complicated. To remove this complexity department introduced a new form ITR2A i.e. in between ITR 1 and ITR 2.

WHO CAN FURNISH ITR FORM 2A: ITR Form 2A can be furnished by an individual or HUF whose total income includes

  1. Income from Salary or
  2. Income From House Property or
  3. Income From Other Sources

WHO CAN NOT FURNISH ITR FORM 2A: ITR 2A cannot be furnished by an individual or HUF whose total includes

  1. Income from Capital Gains or
  2. Income from Business or Profession or
  3. Any Claim of Relief under section 90, 90A or 91 or
  4. Any resident having any asset located outside India or signing authority located outside India
  5. Any resident having income from sources outside India.

DIFFERENCE BETWEEN ITR 1 AND ITR 2A

  1. If there is income from only one house property, ITR 1 can be filed. ITR 2A can be filed if there is income from more than one house property.
  2. ITR 1 cannot be used if there is income from winnings from lotteries or race horses whereas ITR 2A can be filed.
  3. ITR 1 cannot be used if there is agricultural income of more than RS. 5000 whereas ITR 2A can be used if there is agricultural income of more than Rs. 5000.

DIFFERENCE BETWEEN ITR 2 AND ITR 2A

The only difference between ITR 2 and ITR 2A is that if an assessee have income from capital gains then s/he can furnish only ITR 2. S/he cannot filed ITR 2A.

(Author can be reached at  shrutiagrawalindia@gmail.com)

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One response to “All you want to know about ITR 2A”

  1. Malhar Deshpande says:

    I have income from pension, FD interest and dividend (that is exempt income) no other income from any other head. I get about 75000 as dividend. Now I can use itr1 as well as itr2A. Which will be more correct

  2. Mithra says:

    My exempted income is from UGC scholarship is 2 lacs. Which form should i use??

    • SHRUTI AGRAWAL says:

      Dear Mithra,

      If you don’t have any other income then no need to file ITR . But if you want to file then simply declare this exempt income in ITR 1

      Thanks

  3. Sakthivel G says:

    I am a salaried individual. During FY 14-15, I left the employment and started consulting services for about 3 months (Apr-Jun14).As the business was not as expected, i again got into the employment. During the business, Total income was Rs.35K for which TDS has been remitted and the Expenses were Rs.75K.

    I do not want to carry forward the losses as I continue to be in Employment.

    Let me know which ITR form to be used as I need to get the tax refund from Salary Income.

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