ITR 2A was introduced in FY 2014-15 (AY 2015-16). This form was for Individuals and HUFs who had Salary Income and owned more than one House Property. The ones with Capital Gains could not use this form. This form has been discontinued from FY 2016-17 (AY 2017-18) onwards. From FY 2016-17 onwards you can file ITR-2 instead of ITR-2A.
Who can file ITR 2A?
This return can be used by an individual/HUF whose total income includes…
- Salary Income
- Income from House property (Single or multiple house properties)
- Income from Other sources
- Agricultural/exempt income (no limits)
Who can not file ITR 2A?
This return cannot be used in case of following incomes…
- Income from Capital Gains
- Business or Profession Income
- Income from Foreign sources and/or having any foreign asset
Structure of ITR 2A
| Part/ Schedule | Heading | Fields |
|---|---|---|
| PART A- GENERAL | Personal Information | Name, Address, Date of Birth, PAN, contact details. |
| Filing Status | Employer Category, Tax status, Residential status, Return filed under the section. | |
| PART B-TI | Computation of total income | Total of all the incomes. |
| PART B-TTI | Computation of tax liability on total income | The Bank Account details, Verification details. |
| Schedule IT | Details of Advance Tax and Self Assessment Tax Payments | BSR code, Date of Deposit, Chalan number, Tax Paid. |
| Schedule TDS | TDS1: Details of Tax Deducted at Source from SALARY | TAN of Employer, Employer Name, Tax Deducted, etc. |
| Schedule TDS | TDS2: Details of Tax Deducted at sources from Income other than Salary (As per FORM 16A) | TAN, Name of Deductor, Year of Deduction, Tax deducted, etc. |
| Schedule S | Details of Income from Salary | Employer Details, Salary, Perquisites, Allowance, etc. |
| Schedule HP | Details of Income from House Property | Details of House Property, Name and PAN of the Co-owners and Tenants, Details of Rent Income, Interest payable on Borrowed Capital, etc. |
| Schedule OS | Income from Other Sources | A dividend, Interest, Rental income from machinery, Winnings from lotteries, Crossword puzzles, Races, Games, etc. |
| Schedule CYLA | Details of income after setoff of current year losses | |
| Schedule BFLA | Details of income after Set off of Brought Forward Losses of earlier years | |
| Schedule CFL | Details of Losses to be carried forward to the future years | |
| Schedule VI-A | Deductions under Chapter VI-A | Deductions under section 80C, 80CCC, 80CCG, 80D, 80DDB, 80E, 80G, 80TTA etc. |
| 80G | Details of donations | Name of Donee, Address, City or District, State Code, PAN of Donee, Amount, etc. |
| Schedule SPI | Income of specified persons (spouse, minor child etc.) included in the income of the assessee (income of the minor child, in excess of Rs. 1500 per child, to be included) | Name and PAN of Person, Relationship, Nature of Income, Amount. |
| Schedule SI | Income chargeable to income tax at special rates | Description of Special Rate Income, Special Rate, Income, Taxable Income after adjusting min. chargeable to tax, Tax thereon. |
| Schedule EI | Details of Exempt Income (Income not to be included in Total Income) | Interest income, Dividend, Agricultural Income, etc. |
| Schedule 5A | Information regarding the appointment of income between spouses governed by Portuguese Civil Code | Name and PAN of spouse, income received under different heads, amount appointed in the hands of the spouse, TDS details, etc. |
List of Documents Needed to file ITR 2A
Acquire the given list of documents on the basis of relevant Incomes in order to indulge in smooth filing process.
Essential documents:
- PAN (Permanent Account Number)
- Bank account details
- TDS certificates
- Counterfoils of taxes paid
- Details of original return if filing revised return
- Details of notice if filing in response to notice
Documents on the basis of your type of Income:
- Salary income
- Form-16 Salary slips received from your employer and
- Pension statement/passbook.
- House/Property Income
- Address of the property,
- Coowner details in case the property is coowned,
- In case of house/property loan Interest certificates/repayment certificate from a bank,
- In case of let out property – Rent agreement
- Other sources
- Savings/current account statements/Passbook
- Interest certificates for deposits/bonds/NSC
- PPF account statement/Passbook
- Dividend warrants/counterfoils
- Rent agreement in case of let out machinery
- Details about receipts of any other incomes
- If you’re eligible for any Chapter VI-A Tax Breaks, you may need to acquire the relevant documents from the list:
- PPF account statement/Passbook
- Fixed deposit certificates/statements
- Mutual fund NAV statements
- ELSS/ULIP/NSC investment details
- Life insurance premium receipts
- Medical insurance premium receipts
- House/property loan interest certificate/repayment statement
- Donation receipts
How to file the ITR 2A?
You can either file your ITR-2A physically or electronically. From FY 2013-14, the electronic filing of ITR-2A has been made compulsory for taxpayers having an income of more than Rs. 5 Lakhs. Apart from that, if you have foreign assets and income, or you’re seeking a refund or DTAA relief, you need to file your ITR-2A.
In case of Physical submission:
- You can submit the ITR-2A in paper form or
- You can submit the bar-coded return form duly filled.
The department will provide you with an acknowledgement along with stamp of submission on your copy.
In case of Online / Electronic submission:
- You can submit the ITR-2A online after digitally signing the same or
- You can submit the ITR-2A online and subsequently send the signed verification of the filed return in ITR-V to Central Processing Center Bangalore within 120 days of filing.
- Or, with the newly introduced EVC, you can avoid sending the ITR-V and get done with the entire process within three to five weeks.
Sample ITR-2A Form
FAQs
Yes, NRIs can file ITR-2A. However, residents having income from Foreign sources and/or foreign assets can not file ITR-2A. They will have to file ITR-2
Yes. If you have income from long term capital gains covered u/s 10(38) then you can show it under Exempt incomes in ITR-2A
Yes. You can file ITR-2A for income earned during FY 2015-16. This form was introduced in FY 2014-15 and was also applicable in FY 2015-16.
Hey @TeamQuicko
Thanks for the blog! Just one quick question - Why do we have to report a quarterly breakdown of Dividend Income under IFOS?
Thank you!
Hey @TanyaChopra
This quarterly breakdown of Dividend Income under IFOS will help to calculate and determine penalty u/s 234C for the delay in payment of Advance Tax.
Hope this helps!
I had received dividend recently but I had noticed that TDS had been deducted. any idea as to why has it happened and is there a way I can claim this TDS?
Hey @HarshitShah
After the introduction of Budget 2020, dividend income is now taxable in the hands of the shareholder; and is also subject to TDS at 10% in excess of INR 5000 u/s 194 & 194K. Foreign Dividend is taxable at slab rates. TDS is not applicable to such dividends. The taxpayer should report such income under the head IFOS in the ITR filed on the Income Tax Website.
Hope this helps!
Hey @HarishMehta
Yes, dividend income is now taxable from FY 2021-22 onwards and it has to be reported under the head of IFOS.
You can read more about it here:
Hi @Maulik_Padh,
You need to pay Income tax on the net taxable income, i.e. after subtracting deductions, expenses, etc.
If the net taxable income is negative i.e. if there is loss, you can carry it forward when filing the ITR
Here are some of the articles which might help
Hi @ameyj
The amount of TDS deducted shall reflect in your Form 26AS only and it will also reflect the name of the deductor.
Using the name of the deductor you can find out on which share you have received the dividend and you can also cross-check the same in your bank statement.
Yes, you are right, TDS is to be deducted when the dividend paid exceeds 5000 INR in a financial year. However, the 5,000 INR limit pertains to all the dividends an individual gets in a year, or the total dividend per shareholder that a company pays out in a year, is left to interpretation, and hence registrars and share transfer agents (RTA) are not taking any chances and are deducting TDS even on small amounts.
Hope this helps
Hi @ameyj
You can submit a grievance on Income Tax Portal mentioning the issue and also attach the 26AS.
The other option is to leave it as it is and clarify it when the tax department sends the notice.
Hi @TeamQuicko
Consider that I have 10 shares each of 10 different Indian companies. Each of the 10 companies are declaring a dividend of INR 100 before the FY ends. Now I will be recieving 1000 as dividend from each company, thereby a total of 10,000.
The 5,000 dividend limit, is it applicable to each company / total dividend recieved by me in a year. If it is applicable to each company, then I would not attract TDS of 10% for dividend.
Also pl clarify, how would the company B know that I have got shares of Company A,C,D,E so on…
@Saad_C @Laxmi_Navlani @Divya_Singhvi @Kaushal_Soni @AkashJhaveri can you help with this?