1. Eligibility for Form ITR-2 for Assessment 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; or
- Income from House Property; or
- Income from Capital Gains; or
- Income from Other Sources (including 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.
2. Non-eligibility for Form ITR-2 for Assessment Year 2015-16.
This Return Form should not be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes Income from Business or Profession.
3. Manner of filing Form ITR-2 for Assessment Year 2015-16.
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;
A resident assessee having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India, shall fill out schedule FA and furnish the return in the manner provided at (ii), (iii) or (iv).
From the assessment year 2015-16 onwards any assessee (other than an individual of the age of 80 years or more at any time during the previous year) having a refund claim in the return or having total income of more than five lakh rupees is required to furnish the return in the manner provided at (ii) or (iii) or (iv). Also in case of an assessee claiming relief under section 90, 90A or 91 to whom Schedule FSI and Schedule TR apply, he has to furnish the return in the manner provided at (ii) or (iii) or (iv).
Where the Return Form is furnished in the manner mentioned at (iv), the assessee should print out two copies of Form ITR-V. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bengaluru- 560100 (Karnataka). The other copy may be retained by the assessee for his record.
4. Filling out the acknowledgement.
Only one copy of this Return Form is required to be filed. Where the Return Form is furnished in the manner mentioned at (i) the acknowledgement should be duly filled in ITR-V.
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