CBDT vide Notification 41/2015 dated 15-04-2015 has notified New Income Tax Return (ITRs) ITR-1 Sahaj, ITR-2, ITR-4S Sugam and ITR-V for Assessment year 2015-16.

ITR-1 Sahaj is to be used for an individual whose total income for AY 2015-16 includes:

(a)   Income from Salaries/Pension; or

(b)   Income from One House Property (excluding cases where loss is brought forward); or

(c)    Income from other Sources (excluding Lottery Winnings and income from Horse Races)

As per the new ITR for AY 2015-16, the following additional information disclosure has been required .

1. A new Schedule for bank Accounts, namely Schedule BA-Details of Bank Accounts held in India at any time during the previous year has been added.  The schedule is required to be filled in mandatorily. The details of all bank accounts held (including in joint names) at any time during the previous year need to be reported. It follows that even an account is closed during the previous year and is non-existent as on 31-03-2015, its has also to be reported mentioned “closed”. In fact the not only in ITR-1 Sahaj, Schedule BA has been added to all the newly notified ITRs.

2. Option for providing Aadhaar card Number has been provided at item A27 and A28. However quoting Aadhaar is optional and not mandatory.

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New ITRs Suspended for Reconsideration Click Here >>