Simplified Income Tax Returns released – ITR-1, ITR-2, ITR-2A – Most of Salaried Employees to file ITR-1 or ITR-2A

Salaried class  with no capital gains to file either ITR-1 or ITR-2A

IT Dept.has released Income Tax Returns which will have to be filed by Income Tax Assessees on or before 31st August 2015.

Income Tax Returns for the year 2014-15 (Assessment Year 2015-16) were originally notified in the month of April 2015. However, on representations from income tax payers for certain complications in the filing of Income Tax Returns, Govt came forward to revise ITRs after simplifying those.

Consequently, Income Tax Department has released ITR-1, ITR-2, ITR-2A, and ITR-4S now after simplification.

No major change in ITR-1

ITR-1 will be applicable to Salaried Employees having Income or loss from only one house property and without Capital Gains

ITR-2A for Salaried Class with out Capital Gains and more than one House Property

ITR-2A will have to be filed by Salaried Employees who have income or loss from more than one house property and without Capital Gains.

ITR-2 is meant for Salaried Employees who have income or loss from more than one house property and having Capital Gains.

From the Instructions for filing of Income Tax Returns released by IT Department along with ITR, it could be concluded that Majority of Salaried Employees will be covered by ITR-1 and ITR-2A as number of Salaried Employees who have Capital Gains will be very minimal.

Common Instructions for Filing ITR for the Year 2014-15 (Applicable to ITR-1, ITR-2 and ITR-2A)

1. Applicable for  IT Assessment year 2015-16 i.e., Financial Year 2014-15.

2. Income Tax  Return Form can be filed with the Income-tax Department in any of the following ways, –

(i)   by furnishing the return in a paper form;

(ii)  by furnishing the return electronically under digital signature;

(iii) by transmitting the data in the return electronically under electronic verification  code;

(iv) by transmitting the data in the return electronically and thereafter  submitting the verification of the return  in

Return Form ITR-V;

3. 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 5(ii) or 5(iii) or 5(iv).

4. Where the Return Form is furnished in the manner mentioned at 5(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.

5. No document (including TDS certificate) should be attached  to this Return Form.  All such documents enclosed  with this Return Form will be detached and returned to the person filing the return.

6. While filing Paper ITR (Manual filing of ITR) filling out the acknowledgement – ITR-V is neccessary. Only one copy of ITR-V is required to be filed.

Instructions for filing ITR-1

Who can use ITR-1 ?

ITR-1 is to be use by an individual whose total income for the assessment year 2015-16 included:

a) Income from Salary / Pension; or

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

c) Income from other sources (excluding winning from Lottery and income from race horses)

NOTE : When 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 only if the income  being  clubbed  falls into the above  income categories.

 Who cannot use ITR-1 ?

ITR-1 can not be used  by on individual   whose  total  income  for the assessment   year  2015-16  includes:-

a) Income from  more than  one house  property;   or

(b) Income from Winnings  from lottery  or income from  Race horses;  or

(c) Income  under  the  head  Capital  Goins e.g.,  short-term    capitol  gains  or long-term   capital gains from sale of house,  plot, shopes  etc.; or

(d) Agricultural income  in excess of Rs. 5,000;  or

(e) Income from  Business or Profession;   or

(f) Loss under the  head  “Income  from other  sources” ; or

(h) Any resident having any asset outside India ; or

(i) Any Resident having income from any source outside India.

Instructions for filing ITR-2A

Who can use ITR-2A ?

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:-

(a)   Income from Salary / Pension; or

(b)  Income from House Property; or

(c)   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.

Who cannot use ITR-2A ?

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,-

(a)   Income from Capital Gains; or

(b)  Income from Business or Profession; or

(c)   Any claim of relief/deduction under section 90, 90A or 91; or

(d)  Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or

(e)   Any resident having income from any source outside India.

Instructions for filing ITR-2

Who can use ITR-2 ?

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:-

(a)   Income from Salary / Pension; or

(b)  Income from House Property; or

(c)   Income from Capital Gains; or

(d)  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.

Who cannot use ITR-2 ?

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.

7th CPC

7th CPC  has informed in its official webiste  7cpc.india.gov.in that  it has completed all discussions with Organisations, Federations, and Groups which represent Central Government Employees and Defence Services. 7CPC has further reported that it is in the process of finalisation of 7th Pay Commission report.

So, any future requests  made by any organisation for interaction with 7th Pay Commission will not be allowed

The full text  of 7th Pay Commission’ note in its official website is as follows

“Further to the memoranda received  from a variety of Organisations, Federations, Groups representing civil employees in the Government of India as also from the Defence Services, the Commission has had fruitful and wide ranging discussions on relevant issues with all stakeholders. Such interactions  have now been concluded. Valuable inputs  have been received and the work of compilation and finalization of the report is underway, so that the Commission completes its task in the time frame given to it. Accordingly, any future requests for meeting with the Commission will not be entertained.”

So lets hope CPC submits its report at the earliest and its recommendations will be implemented w.e.f. 1-1-2016 onwards. 

Suspension beyond 90 days....

The Hon’ble Supreme Court dealing with a case of continued suspension of a Central Government employee since September 2011 observed, that Suspension, specially preceding the formulation of charges, is essentially transitory or temporary in nature, and must perforce be of short duration. If it is for an indeterminate period or if its renewal is not based on sound reasoning contemporaneously available on the record, this would render it punitive in nature. Departmental/disciplinary proceedings invariably commence with delay, are plagued with procrastination prior and post the drawing up of the Memorandum of Charges, and eventually culminate after even longer delay.

Protracted periods of suspension, repeated renewal thereof, have regrettably become the norm and not the exception that they ought to be. The suspended person suffering the ignominy of insinuations, the scorn of society and the derision of his Department, has to endure this excruciation even before he is formally charged with some misdemeanour, indiscretion or offence. His torment is his knowledge that if and when charged, it will inexorably take an inordinate time for the inquisition or inquiry to come to its culmination, that is to determine his innocence or iniquity. Much too often this has now become an accompaniment to retirement.

If Parliament considered it necessary that a person be released from incarceration after the expiry of 90 days even though accused of commission of the most heinous crimes, a fortiori suspension should not be continued after the expiry of the similar period especially when a Memorandum of Charges/Chargesheet has not been served on the suspended person .

7th Pay Commission report will be submitted by September 2015

1. The CPC report will be submitted to the Government of India well within the time by September 2015.

2) VII CPC report will be implemented on their recommendations w.e.f. 01.01.2016 and not from 01.01.2014 as demanded.

3) The minimum pay and pay structure will be decided by taking into account on the price index of 01.01.2016 for that the provisions are kept.

4) Fitment formula will be equally made applicable for all ranks and it has been worked out already.

              Income Tax Return Filing Date for AY 2015-16 extended to 31-8-2015

Ministry of Finance, Department of Revenue has issued a circular regarding extension of due date of return filing date for AY 2015-16 up to to 31.08.2015.

F .No.225/154/2015/lTA.II 

Officers Posted to DG (Vigilance)
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Inspectors  Inter Commissionerate Rotation
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Superintendents Inter Commissionerate Rotation
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Officers transferred to SEZ.

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Superintendents transferred to Customs & from Customs

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Inspectors Transferred to Customs and from Customs

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Clarification:- Income Tax Return FY 2014-15 AY 2015-16

The finance ministry on Sunday came out with a new three-page income tax return (ITR) forms. The new forms no longer require mandatory disclosure of foreign trips and dormant bank accounts as mandated by the previous form. The new form can be submitted till August 31 this year instead of the regular July 31 deadline.

The new forms will be up on websites for e-filing from the third week of June since the government is yet to update the software with new proposed changes.

Accoring to a finance ministry statement, the new forms — ITR 2 and ITR 2A — will have only three pages and other details will have to be filled in schedules, as per each individuals criterion and income.

The revenue department has also proposed to come out with a new ITR 2A form, which can be filed by an individual or HUF, who does not have capital gains, income from business/ profession or foreign asset/foreign income. This according to the government will cover a maximum number of tax payers.

For information related to bank accounts the ministry has decided to ask information of only those dormant accounts which were operational during the last three years, from the filing year.

"As regards bank account details in all these forms, only the IFS code, account number of all the current/savings account which are held at any time during the previous year will be required to be filled-up. The balance in accounts will not be required to be furnished," the statement added.

Further clarifying for non Indian citizen individuals, the income tax department said that it is not mandatory for them to report the foreign assets acquired by him during the previous years in which he was non-resident and if no income is derived from such assets during the relevant previous year.

Revised Due List of Customs of Inspectors.

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Please go through it and bring any discrepancy in the notice of Association at the earliest.

Cardinal Points for AGT-2015 for Guidance of Officers in the Grade of Inspectors: Reg.

Steps to be taken during AGT-2015

• Liable to be transferred to Rajkot Sector;

• Transfer & posting to Kandla/Mundra Commissionerates through willingness based on Seniority List as on 01.01.2014;

• Transfer & posting to Customs as per Transfer Policy, ‘Due Lists’ to be compiled based on Seniority List as on 01.01.2014;

• Transfer & posting to Audit Commissionerate as per the guidelines, staffing to be done from all the CE Commissionerates of Ahmedabad Sector;

•  Internal rotation within the Commissionerate.

Willingness for Kandla/Mundra Commissionerates

• 04 years immediate & continuous working in Central Excise/Service Tax i.e. the concerned officer should be working in Commissionerate since 2011 without any break; and,

•  Eligibility list should be compiled taking into consideration Seniority List as on 01.01.2014.

Due List for Customs

• As per Seniority List on 01.01.2014;

• The concerned officer must not have completed 57 yrs of age;

• If an officer has not worked for continuous 01 year, he or she will be considered as “Never Worked”; and,

• If any exemption is granted to any Officer, he or she will be compulsorily posted to non-sensitive charge during the period of such exemption and next year, his or her name shall be on the top of the list for Customs.

Transfer from Audit Commissionerate

• Officers working in Audit Commissionerates are liable to be posted to Customs as well as Ahmedabad Sector;

• Officers who have completed 03 years combined tenure of erstwhile Audit Section plus newly created Audit Commissionerate; and,

• Officers who have completed their Sensitive Tenure;

Eligibility for Posting to Audit Commissionerate

• Officer concerned must be posted in a non-sensitive charge since last 02 years i.e. since 2013;

• During that tenure the officer concerned should not have any additional Sensitive Charge;

• Cooling off period of 04 years should be considered i.e. the officer concerned should not be posted in Audit formation since 2011;

• Work experience of 02 years in the grade of Inspector i.e. only those officers who have joined in 2013 in the grade of Inspectors are eligible;

• Newly promoted officers are not eligible to be posted in Audit Commissionerate;

• Eligibility List of Officers should be made taking into consideration all the aforementioned criteria;

• From among the eligible officers, 2/3 officers to be posted should be senior most and 1/3 should be junior most in the respective grade.

Transfer of Over-stayed Officers from Commissionerate

• While counting of tenure at Commissionerate, tenure of encadred SEZ’s of Commissionerates like Reliance SEZ in case of Rajkot Commissionerate should be taken into consideration;

• While counting of tenure at Commissionerate, tenure of those officers of Rajkot Commissionerate who have worked in Adani MP&SEZ before 15.10.2014 should be taken into consideration;

• Tenure of loan basis postings should be counted in Commissionerate tenure;

• Tenure of deputation postings like KASEZ etc. should not be counted in Commissionerate tenure; and,

• No exemption should be extended to lady officers.

Posting of Repatriated Officers from Customs

• As per the willingness and subject to availability of vacancy and administrative approval; and,

• Priority will be given to those Officers who will have the longest tenure from where they are requesting repatriation.

Note: The aforementioned cardinal points have been compiled on the basis of the provisions as laid down in the Central Excise Policy dated 08.05.2015 and are based upon the individual understanding of the undersigned. The same are meant for a simple understanding of the provisions of Transfer Policy and are intended to provide guidance only and are not meant for circulation or publication.

Manoj Kumar Singh