Income tax rules pdf 2015 tax return ay 2015-16

Apr 09, 2018 the last date of filing income tax return ay 2015 2016 has been extended from 31 st july to 31 st august 2015. Here is a primer on income tax slab rates for ay 201617. Apr 08, 2015 download tax planning ebook for fy 2015 16 ay 201617 2. Download income tax calculator fy 201415 ay 2015 16. My query is why i should pay the penalty, since the law is made on 1st april 2017 onwords and not to prior to that. Huf, trusts may be covered under tax audit provisions for which icai has. Due date to file income tax return ay 2015 16 extended to 31. Income tax ratesslab for assessment year 201415 previous year 2014 rates %age. New income tax return form for ay 2015 16 itr3, itr4, itr5, itr6 and itr7 has been notified by cbdt vide notification no. This is the main menu page for the general income tax and benefit package for 2015. Below are for detailed instructions on how to fill itr1 sahaj, click here pdf file. Here is a quick guide to file your tax return for the assessment year 201516 step 1. Carbon tax repeal and 201516 tax cut reversal in detail. Up to 2,00,000 up to 2,00,000 for women up to 2,50,000 for resident individual of 60 years till 80 years.

The income tax law consists of income tax act 1961, income tax rules. Tax rebate of rs 2000 to resident individuals whose total income is less than rs 5,00,000. Due date to file income tax return assessment year 201516. This return form is applicable for assessment year 201617 only, i. Indian income tax return assessment year itr2a for. Incometax slab rates for individual for fy 201516 ay. Jan 30, 2018 31 january 2018 you can not file tax return for ay 2015 16, year got expired. Until fy 201516, the due dates and amount of advance tax were different for. Individual tax return 2015 australian taxation office. Today i have gone to income tax department to file the return financial year 201415assessment year 2015 16, whereas the income tax officer has told me to pay penalty rs. Selfincome from transaction relate to different ay.

The sugam itr4s is a form used by a certain section of tax assessees while filing their. Simple income tax calculator cum flexi allocation kit, for the use of salaried employees of govt and private sector, basis the latest budget proposals. Latest income tax slabs in india fy 2015 16 or as 201617. Download the income tax return itr form applicable to you. Tax is usually deducted automatically from wages, pensions and savings. How to file income tax return for the ay 20152016 myeca. Itr 2a validation rules for ay 201516 income tax department. This downloadable income tax calculator, calculate tax on your income for for financial year 201415 assessment year ay 2015 16 automatically without any hassle.

In 20, income tax department issued letters to 12,19,832 nonfilers who had done high value transactions. Income tax calculator for fy 2015 16 ay 201617 351. D what is amount of penalty for nonfiling an income tax return. Report alimony received on form 1040 or form 1040sr attach schedule 1 form 1040 or 1040sr pdf or on schedule nec, form 1040nr, u. Union budget 2015 16 and 201415 have not altered the rebate available under section 87a for fy 2015 16, 201415 or ay 201617, 2015 16 meaning thereby that effectively there will be no income tax payable up to the total income of rs. Incometax for the previous year relevant to the assessment year 201516. Each package includes the guide, the return, and related schedules, and the provincial information and forms. It also requested to consequential extension in due date of filing tax audit. The taxpayers have to correctly choose the relevant form and file the return. Ca pardeep kumar income tax return forms assessment year 201516 notification no. Individuals can select the link for their place of residence as of december 31, 2015, to get the forms and information needed to file a general income tax and benefit return for 2015. The central board of direct taxes has notified incometax return forms applicable for the financial year 201516 assessment year ay 201617. Under the download menu, click on income tax return forms and choose ay 2015 16 for financial year 201415.

Income tax department income tax return statistics assessment year 2015 16. But the tax slabs have not been changed for the last few years. Income tax filing for ay 201516 resolved caclubindia. Icai request due date extension of itr filing for a. Income tax is a direct tax which is levied by the government. Rules for filing of income tax returns by individuals. Self assessment is a system hm revenue and customs hmrc uses to collect income tax. Chartered accountants 25th august, 2015 shantinath hall, icai organised by.

Cbdt has notified income tax return itr forms for ay 2015 16. Income tax rates 20142015 for filing individual tax returns. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. This is the new income tax return form 2a which is introduced first time in income tax return form. Jul 30, 2015 new income tax return form for ay 2015 16 itr3, itr4, itr5, itr6 and itr7 has been notified by cbdt vide notification no. Income tax calculator for fy 201516 ay 201617 excel based the union budget for 2015 was presented today by arun jaitely. But d o not wait till the last week of august to file your ay 2015 16 income tax return. Standards rules, 2015, by ticking the applicable checkbox. Income tax forms for assessment year 2015 2016 is released by income tax department for assessment year 2015 2016, every person not being a co. Now a days all tax consultants,business men,specially persons who have earned salary income,are in rush to file their income tax return for financial year 201415 by due date i. Ay 20 a return of income in for assessmentyear201516, having thefollowingparticulars name permanent account number income tax wardcircle name of premisesbuildingvillage received with thanks from itrno. Income of a cooperative society under the new regime is taxable at flat rate of 22% provided it forgoes specified deductions and exemptions and computes its income. Create your efiling account in order to create an efiling account, you should visit the income tax website and click on register yourself which will prompt you to fill your personal details.

Here is a quick guide to file your tax return for the assessment year 2015 16 step 1. Thus, in simple terms we can say if your gross total income is more that rs. Just to add, even if you could not file return after the last date i. New itr forms for ay 201516 for income tax return filing. Income tax slab for fy 2015 16 ay 201617 there is no change in income tax slabs except additional 2% increase in cess for super rich i. Itr 4 validation rules for ay 201516 income tax department. Remember, this limit will be rs3,00,000 for individuals who have reached 60 years of age during the financial year or earlier. Archived general income tax and benefit package for 2015. Details of all bank accounts, even if closed during the year to be provided in schedule ba. The tax slabs have remain unchanged but there have been some changes in terms of transport allowance, medical insurance benefits and exemption for physically challenged tax payers. New itr forms for ay 201516 income tax return filing. Income tax slabs and rates for fy 202021 bankbazaar.

Government notifies new income tax return forms for ay 2016. This section can help you to plan your salary components in case your company offers such facility. The new income tax rates or income tax slabs are effective from april 01, 20. Assessee, applicable return and mode of filing for ay 2015 16. Given below are the various tables for the latest income tax slabs for the fy 20202021. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Individual tax return 2015 1 july 2014 to 30 june 2015 please print neatly in block letters with a black or blue ballpoint pen only. Income tax applicable to cooperative society under new optional tax regime section 115bac. The constitution of india schedule vii union list entry 82 has given the power to the central government to levy a tax on any income other than agricultural income, which is defined in section 101 of the income tax act, 1961. Itr 3 validation rules for ay 201516 income tax department.

Oct 14, 2019 government of india has increased the basic personal income tax exemption limit from rs. Filing of income tax return for ay 201516 new initiatives. Instructions for sahaj income tax return ay 201617 general. Download income tax return efiling utilities ay 2015 16 note for ay 2015 16, itr1, itr 2, itr 2a, itr 4s where returned income is grater than 5 lakhs or where refund is claimed except where the person is 80 years or more and filing itr 1, 2 or 2a and itr 3 itr 4 itr 5 itr 6 itr 7 are mandatorily required to be. Cbdt notifies income tax return forms simplified for ay 201516 vide notification no. Legislation was passed by parliament in june 2015 to amend the 201516 tax scale and low income tax offset so that the overall tax rates are the same as the previous year. Recent changes in rule 12, income tax return forms for ay. In exercise of the powers conferred by section 295 of the incometax act, 1961 43 of 1961, the central board of direct taxes hereby makes the following rules further to amend the incometax rules, 1962, namely. Income tax calculator for financial year 2015 16 assessment year 201617 in excel format. The new itr forms 1, 2 and 4s were notified for the assessment year 2015 16 vide said notification. Assessment year 201617 financial year 201516 every individual, hindu undivided family and company whose net wealth exceeds the maximum amount which is not chargeable to wealth tax in any previous year ending of 31st march is liable to file the wealth tax return. So you have to make applications, so now you can make an application for condonation of delay for any financial year ending 31032009 or thereafter. For individuals, hufs and firms other than llp being a resident having total income upto rs.

Due date to file income tax return ay 201516 extended to 31. Aug 24, 2015 now a days all tax consultants,business men,specially persons who have earned salary income,are in rush to file their income tax return for financial year 201415 by due date i. Particulars old forms for ay 201415 new forms for ay 2015 16 released in april 2015 new forms for ay 2015 16 released in june 2015 bank account details of only one bank account for refund was required to be given. The income tax return utility is in excel and java format which you can use both online and offline mode to file income tax return for assessment. The income tax department notified income tax return utility itr 2a for the assessment year 2015 16. Download tax planning ebook for fy 2015 16 ay 201617 2. Quick excel income tax calculator for fy 201516 ay 201617.

It showing loss, negative sn at left b6 b7 89 bli b12 8 b 14 815 gross total income deductions under chapter via total income current loss if any net tax payable interest payable. If the applicable form is itr1 you can complete the process on the portal itself, submitting the details online by using the quick efile itr link. This return form is applicable for assessment year 201920 only i. Availabilityincome tax rebate section 87a fy 201415 ay. However in case you are carrying on a business and your accounts are required to be audited, the due date gets extended till september 30, 2015. This article provide quick excel income tax calculator for fy 2015 16 ay 201617 for individual resident whose age is below than 60 years i. 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. Aadhaar number and passport number is now mandatory. Log on to efiling portal at if you are not registered with the efiling portal, use the register. These instructions are guidelines for filling the particulars in this return. As per section 271f, the assessing officer can levy a penalty of rs 5,000 in case you have failed to file your return by due date. Income tax return forms for assessment year 201516.

Simple tax calculator for the use of salaried employees of govt and private sector, basis the latest budget changes. Scenario 1 if the amount of salary disclosed in income detailspart bti is less than 90% of salary reported in schedule tds1. Government of india income tax slab rates for ay 20142015. The last date for filing income tax return for ay 2015 16 fy 201415 is august 31, 2015. How to validate return using electronic verification code evc. For individuals being a resident other than not ordinarily resident having total income upto rs. The rule 12 of the income tax rules was amended vide notification no. Income tax return forms for assessment year 201516 guide. For information about any additional changes to the 2015 tax law or any other devel opments affecting form 1040 or its instructions, go to. After the financial year is over as on 31st march, the next job is to obtain form 16 or so from employers and others and file income tax return on or before due date i. Scenario 1 tax determined as payable in the return is unpaid. In 2014, income tax department has identified additional 22,09,464 nonfilers who have done high value transactions. Cbdt has also amended rule 12 of the income tax rules, 1962 expanding. Discussion on changes in income tax return for ay 2015 2016.