ITR-2A is a newly-introduced income tax return form meant for individuals and HUFs who have salary income and own more than one house property and do not have income from capital gains.
The main difference between ITR Form 1 and ITR 2A is that ITR Form 1 cannot be used if a person has income from more than one house property, whereas ITR 2A can be used if a person has Income from more than one House Property.
To check Income Tax slab Income Tax Slab for FY 2014-15 (AS Year 2015-16)
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes,
- Income from Salary / Pension
- Income from House Property(excluding cases where loss is brought forward from previous years)
- Income from Other Sources (including the Winning from Lottery and Income from Race Horses)
Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
Assesses who are eligible to file using the ITR-2A Form are,
- This form is applicable for those who have salary income and own more than one house property and DO NOT have any capital gains.
- Those who have long-term capital gains from transactions on which Securities Transaction Tax is paid (which are exempt) from tax can still use this form.
- NRIs can file ITR-2A, if applicable, however, residents who have a foreign asset or foreign income CANNOT file this form.
Who Cannot File On ITR-2A?
This income tax return ITR -2A CANNOT be filed by those who have
- Income from Capital Gains
- Income from Business or Profession
- Any claim of relief/deduction under section 90, 90A or 91
- Any resident having any asset (including a financial interest in any entity) located outside India or signing authority in any account located outside India
- Any resident having income from any source outside India.
Structure Of ITR 2A Form
Complete ITR form is divided into 2 main sections and several schedules:
- Part-A: General information requiring identificatory and other data
- Part-B-TI: Computation of total income
- Part B-TTI: Computation of tax liability on total income
- Tax Payments: Statement of payment of advance-tax and tax on self-assessment, TDS on Salaries and TDS on non-Salary income
- Schedule-S: Computation of income under the head Salaries
- Schedule-HP: Computation of income under the head Income from House Property
- Schedule-OS: Computation of income under the head Income from other sources.
- Schedule-CYLA: Statement of income after set off of current year’s losses
- Schedule-BFLA: Statement of income after set-off of the unabsorbed loss brought forward from earlier years.
- Schedule- CFL: Statement of losses to be carried forward to future years.
- Schedule-VIA: Statement of deductions (from total income) under Chapter VIA.
- Schedule 80G: Statement of donations entitled for deduction under section 80G
- Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or association of persons to be included in the income of the assessee in Schedules-HP, CG and OS.
- Schedule-SI: Statement of income which is chargeable to tax at special rates
- Schedule-EI: Statement of Income not included in total income (exempt incomes)
- Schedule-5A: Statement of apportionment of income between spouses governed by the Portuguese Civil Code.
Difference Between ITR 1 And ITR 2A
Both ITR 1 and ITR 2A can be used where the income of the Individual or HUF includes income only from Salary or House Property or Other Sources.
However, the following are some of the differences between the eligibility to use ITR 1 and the eligibility to use ITR 2A
ITR 1 can be used in cases where the income is only from the 1 House Property whereas in case of ITR 2A there is no such restriction on the no. of houses from which the income from house property has been earned.
ITR 1 cannot be used in case of Income from Winning from Lotteries or Race Horses whereas ITR 2A can be used to disclose such income from Winning from Lotteries or Race Horses.
ITR 1 cannot be used if the Agricultural Income is more than Rs. 5000 whereas ITR 2A can be used if the Agricultural Income is more than Rs. 5000
ITR 1 cannot be used if there a loss under the head House Property whereas ITR 2A can be used in cases where there is a loss under head House Properties.
Read Part 3 # Income Tax Return form: ITR 1 Sahaj for more clarification.
Therefore ITR 2A is a more comprehensive form as compared to ITR 1. The more comprehensive the ITR Form, the more complicated it is.
Difference Between ITR 2 And ITR 2A
ITR 2 is a much wider form as compared to ITR 2A. Anyone who can use ITR 2A can also use ITR 2.
The only difference between ITR 2 and ITR 2A is that ITR 2A cannot be used in case of Incomes arising from Capital Gains whereas ITR 2 can be used in case of Income from Capital Gains.
Newly Required Fields:
- Aadhar Number: Individual is mandatorily required to specify Aadhar Number if (s) he has
- Passport Number: Individual is mandatorily required to specify Aadhar Number if (s) he has
- Return Filed u/s 119(2) b: Assessee is required to specify if the return is filed in pursuant to order, instruction or direction of CBDT (Board).
- Details of Bank Account held in India at any time during the previous year (excluding dormant account)
- Date of Formation of HUF
- Details of Income Taxable under the Double Taxation Avoidance Agreement (DTAA)
- Reporting of Agriculture income
- Tax Paid Payment, TDS from Salary & TDS on Income schedule is moved to page 3 which was on Page 10 previously in ITR 2 (old forms)
- Details of Income from Property if it is deemed to be let out: Previously only the income from property which is let out is required to be reported.
Read Income Tax return form : ITR2 for more clarification.
Manner of filing this Return Form
This Return Form can be filed with the Income-tax Department in any of the following ways,
- By furnishing the return in a paper form;
- By furnishing the return electronically under digital signature;
- By transmitting the data in the return electronically under electronic verification code;
- By transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V.
Where the Return Form is furnished in the manner mentioned at (iv), the assessee should print out two copies of Form ITR-V.
NOTE: One copy of ITR-V, duly signed by the assessee, has to be sent by post to -Post Bag No.1, Electronic City Office, Bengaluru-560100, Karnataka.
The other copy may be retained by the assessee for his record.
Online ITR Filing can be done from below website
Please note this recommendation are based on experience. We are not affiliated with the above recommended company.