Can you tell me about the new ITR 2A form introduced this year?
The new ITR 2A form is made available for individuals or Hindu Undivided Families (HUFs) who do not have capital gains, income from business/profession or foreign asset/foreign income. Any individual tax payer or HUF having any income from salary/pension and/or income from more than 1 house properties and/or income from other sources must use the form 2A to file their tax returns. The difference between ITR 2 and ITR 2A is that ITR 2A cannot be used if you have any income from capital gains.
The form ITR-2A, which was introduced in 2015, has been discontinued.
In a bid to make tax filing simpler, the government has reduced the total number of forms (used to file taxes under different income heads) to seven from nine. For A.Y. 2017-2018 all those who used to file their taxes using ITR-2, ITR-2A and ITR-3 will only have to file ITR-2. The new ITR-2 form is to be used by all those to file taxes who own more than one house, have earned taxable capital gains or are receiving income from a business and professions.