ITR Form 2A – Features and Eligibility Criteria

An individual has to file taxes, for which he needs to fill out the income tax forms and submit them accordingly. ITR 2A form falls under the category of these tax forms. 

What is ITR Form 2A?

Form ITR-2A has been introduced for the HUFs and individuals who have multiple house properties, have an income from salary, and do not derive income from capital gains. 

In this blog, we have described the meaning of Form 2A, eligibility criteria, and the individuals who are not eligible to file the form.

Eligibility Criteria to File ITR-2A Form

The following assesses are eligible to file form ITR 2A:

• The form applies to individuals who do not have a capital gain but rather have an income from salary. These individuals must also have multiple house properties
• Individuals who earn long-term capital gains from deals on which the Securities Transaction Tax is paid from the tax can fill out this form
• NRIs are also eligible to file ITR 2A only if applicable. However, the residents who possess a foreign income or foreign asset are not eligible to file Form 2A 

Who is not Eligible to File the ITR 2A Form?

ITR 2A cannot be filed by individuals who have:

• Capital gains income
• Income earned from a profession or business
• Deductions under sections 91, 90A, 90 or possess any relief claim
• A resident who has an international asset situated outside India or an authority for signing any account situated outside India
• A resident with an income source outside India

Structure of ITR-2A Form

ITR-2A is segregated into two parts and several schedules:

• Part-A: General information requiring identificatory and other data
• Part-B-TI: Calculation of total income
• Part B-TTI: Calculation of the tax liability on total income
• Tax Payments: Statement indicating payment of advance tax and self-assessment tax, Tax Deducted at source on salary and non-salary incomes 
• Schedule-S: Calculation of income under the head Salaries
• Schedule-HP: Calculation of income under Income from House Property
• Schedule-OS: Calculation of income under the Income from other sources
• Schedule-CYLA: Income statement after deduction of current year’s losses
• Schedule-BFLA: Income statement post deduction of unabsorbed loss from previous financial year 
• Schedule- CFL: Loss statement being forwarded to the next financial year
• Schedule-VIA: Total income deduction statement according to Chapter VIA 
• Schedule 80G: Statement of donations eligible for an income tax deduction as stated in section 80G 
• Schedule SPI: State of income of the assessee, including any income arising from AOP/spouse/son’s wife/ minor child 
• Schedule-SI: Income statement that is taxed at special rates 
• Schedule-EI: Income statement of the assessee after deduction of tax-exempt incomes
• Schedule-5A: Statement of the division of income between spouses in accordance with the Portuguese Civil Code 

How do I File ITR-2A Form? 

The provisions to file Form 2A have been provided online and offline. The e-filing of Income Tax Return becomes mandatory if:

• The accumulated gross income is more than ₹5 lakh
• A refund is being seeked
• One possesses foreign income and assets (which includes an entity’s financial interest)
• DTAA relief is being seeked

Related EPF Form

Download ITR 2A Form

The form for ITR 2A is available on the official website of the Income Tax department https://incometaxindiaefiling.gov.in. Head to the section of forms download. One can download the form with ease without having to pay any charges. 

Difference Between ITR 1 and ITR 2A

ITR 1 and ITR 2A are the forms required to be filled by HUFs or individuals whose income is derived only from house property, salary, or other defined sources. However, there are some major differences between the two. 

• Form ITR 1 has to be filled when the income is derived only from 1 house property. Whereas ITR 2A does not define any restrictions on the number of house properties that are the source of income. 
• Using ITR 1 to disclose income from gambling, racehorses, or winning lotteries is strictly restricted. However, Form 2A can show proof of income from the above-mentioned kinds.
• ITR 1 Form is refrained to be used if the Agricultural income exceeds ₹5000. On the other hand, utilisation of ITR 2A can be made if the agricultural income exceeds ₹5000.
• If a loss is incurred under head House Property, Form ITR 1 cannot be used. However, ITR 2A can be filed if there is any loss under the major House Property.

The above points symbolise the comprehensive nature of Form 2A. 

Other Informations About Form 2A

• Other documents like Form 16A, Form 16, Form 26AS, and Form 16B are not needed to be attached to ITR 2A. This is because the Income Tax Return forms are annexure-less return forms.
• The taxpayer is required to provide his bank account information irrespective of whether the income tax refund is due to him or not.
• From 2015-16, it is not required for the taxpayers to send a copy of the ITR-V to the Income Tax CPC Office. The Income Tax Return can be authenticated using the Aadhaar Card Number, nullifying the need to provide a hard copy. 

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