Know about ITR 2A Form
ITR 2A Form has been introduced from Assessment Year 2015-16 by the Income Tax Department in order to avoid the problems faced by the taxpayers while filing their tax returns with ITR-1 and ITR-2.
When to File ITR 2A Form
ITR-2A can be filed by an individual/HUF (Hindu Undivided Family) if their income includes the following:
- Income earned from salary/pension
- Income earned from house property
- Income earned from winning lotteries (like income from lotteries, etc.)
When Not to File ITR 2A Form.
ITR-2A Form is that it cannot be filed if the total income of an individual/HUF includes the following:
- Income from business/profession
- Income from capital gains
- Income from sources which is not based in India
- Any claim of deduction/exemption under Section 90, 90A and 91.
In cases like these, ITR-2 Form should be used. ITR-2A is preferred over ITR-1 because it can be filed if the total income includes income from more than one house property, income earned from lotteries, income from agriculture is more than Rs. 5000, if there is a loss under the head ‘House Property’ while ITR-1 cannot be used in the cases mentioned above.
Filing ITR 2A Form
ITR-2A can be filed with the Income Tax Department in both the ways, i.e., online or in person.
Structure of ITR 2A Form
The ITR-2A Form contains two parts and various Schedules, of which the parts are:
- Part A- It includes general information like Information, etc.
- Part B- It includes calculation of total income and tax which is chargeable on the total income.
The Schedules under the ITR 2A Form are as follows:
- Schedule-S: It includes the computation of income under the head ‘Salaries’.
- Schedule-HP: It includes the computation of income under the head ‘Income from House Property’.
- Schedule-CG: It includes the computation of income under the head ‘Capital Gains’.
- Schedule-OS: It includes the computation of income under the head ‘Income from Other Sources’.
- Schedule-CYLA: Statement of income after setting off of current losses.
- Schedule-BFLA: Statement of income after setting off of unabsorbed loss brought forward from previous years.
- Schedule-CFL: Statement of losses which are to be carried forward to future years.
- Schedule-VIA: Statement of deductions that are under chapter VIA.
- Schedule-80G: Statement of donations that are entitled for deduction under Section 80G.
- Schedule-SPI: Statement of income accruing to minor child/spouse/son’s wife or any other person/association of persons to be included in the income of the taxpayer/assessee under Schedules-HP, CG and OS.
- Schedule-SI: Statement of income which is taxable at special rates.
- Schedule-EI: Statement of income which are not included in total income. i.e., Exempt Income.
- Schedule-IT: Statement of payment of tax in advance and tax on self-assessment.
- Schedule-TDS1: Statement of TDS from income on salary.
- Schedule-TDS2: Statement of TDS from income on income other than salary.
- Schedule-FSI: Statement of income arising outside India.
- Schedule-TR: Statement of tax relief which has been claimed under Sections 90, 90A or 91.
- Schedule-5A: Statement of apportionment of income between spouses governed by Portuguese Civil Code.
- Schedule-FA: Statement of Foreign Assets and Income.
Related Topic: ITR E-Filing Guide
For any help on ITR Filing feel free to consult the tax experts at Taxraahi. You can file ITR yourself via our ITR software or get CA’s help on filing income tax return. You can also use the option of Business Return, Bulk Return or Revised Return Filing.