In lieu of foreign trip details,
newly notified forms seek passport number, “if available”.
New forms exempt disclosure of
“dormant” bank accounts details. Further, account balance in
bank accounts, now not required to be disclosed.
Expats not required to report foreign
asset details, if no income derived from such assets during relevant previous
year.
Other disclosure requirements in the
newly notified ITR forms largely unchanged vis-à-vis earlier notified forms in
April, 2015.
CBDT has notified the simplified
version of income-tax return forms- ITR-1, ITR-2 and ITR-4S along with new
form ITR-2A, for AY 2015-16,after having withdrawn the earlier set of forms notified on April 15, 2015.
Key changes in newly notified ITR
forms vis-à-vis earlier forms for AY 2015-16
|
Forms
|
Changes vis-à-vis earlier notified forms
|
|
ITR 1 (applicable to individuals having salary income / one house
property income / other sources income like bank interest)
|
· Details of dormant bank accounts (not operational during the last
three years) not to be furnished
· Bank accounts balances no more required to be furnished
· Provides option to indicate bank accounts in which assessee
would want his refund credited
· Additional bank account details like name of the
joint holders (if any) now stands deleted
|
|
ITR 2 (applicable to individuals/HUFs not having business/profession
income)
|
· Details of foreign trips or expenditure thereon, not required
to be furnished
· Passport no., if available, to be furnished
· Details of dormant bank accounts (not operational during the
last three years) not to be furnished
· Bank accounts balances no more required to be
furnished
· Provides option to indicate bank accounts in which assessee
would want his refund credited
· an expat (not an Indian citizen and is in India on business,
employment or student visa), not mandatorily required to report the foreign
assets acquired by him during the previous years when he was non-resident, if
no income derived from such assets during the relevant PY
|
|
ITR 4S Sugam (applicable to Individuals / HUFs deriving business
income from presumptive scheme u/s 44AD & 44AE of the Act)
|
· Details of dormant bank accounts (not operational during the last
three years) not to be furnished
· Bank accounts balances no more required to be
furnished
· Provides option to indicate bank accounts in which assessee
would want his refund credited
|
Key Features
of New ITR-2A:
Applicable to individuals / HUFs ,not having either business/profession
income ,or capital gains and not holding foreign assets;
Bank account details similar to aforesaid ITR forms
Seeks Passport No.,if available
Seeks Aadhaar No. and email ids
