CBDT Notifies ITR-1 ITR-2 ITR-4S ITR-V for A.Y. 2015-16

S.O. 1014 (E).─ In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (Seventh Amendment) Rules, 2015.

(2)    They shall be deemed to have come into force with effect from the 1st day of April, 2015.

2. In the Income-tax Rules, 1962,─

(1) in rule 12,─

(a)   in sub-rule (1),-

(A)      after  the  words,  brackets,  figure  and  letter  “sub-section  (4D)”  the  words, brackets, figure and letter “or sub-section (4E)” shall be inserted;

(B)       for the figures “2014”, the figures “2015” shall be substituted;

(C)       in clause (a), in the proviso, in clause (I), for sub-clause (ii), the following sub- clauses shall be substituted, namely:-

“(ii) signing authority in any account located outside India; or

(iii) income from any source outside India;”;

(D)      in clause (ca), in the proviso, in clause (I), for sub-clause (ii) the following sub- clauses shall be substituted, namely:-

“(ii) signing authority in any account located outside India; or

(iii) income from any source outside India;”;

(E)       in clause (g), after the words, brackets, figure and letter “sub-section (4D)” the words, brackets, figure and letter “or sub-section (4E)” shall be inserted;

(b)  for sub-rule(3), the following sub-rule shall be substituted, namely:-

‘(3) The return of income referred to in sub-rule (1) shall be furnished by a person mentioned in column (ii) of the Table below to whom the conditions specified in column (iii) apply, in the manner specified in column (iv) thereof:-

Table

Sl.	Person	Condition	Manner of furnishing return of income
(i)	(ii)	(iii)	(iv)
1	Individual or       Hindu undivided family	(a) Accounts are required to be audited under section 44AB of the Act;	Electronically  under   digital signature
		(b) Where (a) is not applicable and,- (I)   the  return  is  furnished  in  Form No. ITR-3 or Form No. ITR-4; or (II)  the person, being a resident, other than    not     ordinarily    resident within   the   meaning     of    sub- section (6) of section 6, has, (A) assets       (including        financial interest  in  any  entity)  located outside   India;   or   (B)   signing authority in any account located outside   India;   or   (C)   income from any source outside India; (III) any relief, in respect of tax paid outside India, under section 90 or 90A  or  deduction  of  tax  under section 91 is claimed; or (IV) any report of audit referred to in	(A)      Electronically    under digital signature; or (B)      Transmitting the data in the return electronically under electronic verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V.

		proviso to sub-rule (2) is required to be furnished electronically; or (V) total income assessable under the Act during the previous year of the person (other than the person, being an individual of the age of 80 years or more at any time during the previous year and furnishing  the  return  in  Form ITR-1 or ITR-2),- (i) exceeds five lakh rupees; or (ii) any refund is claimed in the return of income;
		(c)  In any other case.	(A)      Electronically    under digital signature; or (B)      Transmitting the data in the return electronically under electronic verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V; or (D)      Paper form;
2	Company	In all cases.	Electronically  under   digital signature.
3	A      person required to furnish the return in Form ITR-7	(a) In case of a political party;	Electronically  under   digital signature;
		(b) In any other case	(A)       Electronically     under digital signature; or (B)       Transmitting the data in  the  return  electronically

			under  electronic  verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V.
4	Firm          or limited liability partnership or           any person (other than a person mentioned in Sl. 1 to 3 above) who is  required to file return in  Form ITR-5	(a)  Accounts are required to be audited under section 44AB of the Act;	Electronically  under   digital signature;
		(b)  In any other case.	(A)      Electronically    under digital signature; or (B)      Transmitting the data in the return electronically under electronic verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V.

Explanation.- For the purposes of this sub-rule “electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).’

(d)  in sub-rule (4), for the words and brackets, “Director-General of Income-tax (Systems)”, the words and brackets “Principal Director-General of Income-tax (Systems) or Director- General of Income-tax (Systems)” shall be substituted;

(e) in sub-rule (5),  for the figures “2013”, the figures “2014” shall be substituted.

(2)  in  Appendix-II,  for  "Forms  SAHAJ (ITR-1),  ITR-2,  SUGAM (ITR-4S)  and  ITR-V"  the "Forms SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) and ITR-V" shall respectively, be substituted, namely:-

                     [Notification No. 41/2015/ F.No.142/1/2015-TPL]

(Gaurav Kanaujia)

Director to the Government of India

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