• Changing from ITR1 to ITR2 and about 26AS

Hi! I am OCI holder and living overseas. I have been filing income tax under ITR1 from 2016 for rental from few properties. Has it now changed and i have to file under ITR2?
How do i change from ITR1 to ITR2 and what happens to filings made under ITR1?
Also, Is there different 26AS for NRIs and residents or the same?
Thank you.
Asked 3 years ago in Income Tax

You can easily file the same way as you are doing ITR1. If you want I can help you on that. 

26AS are same for both 

 

Vidya Jain
CA, Kolkata
1010 Answers
58 Consultations

4.8 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

Yes, you need to file ITR 2 for the same.

 

26AS is same for NRIs and residents.

 

We may assist you in ITR filing and entire procedure.

 

It is advisable to take a phone consultation for detailed discussion.

 

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

- For A.Y. 2020-21, ITR-1 is for residents and ordinary residents only . For NRI and RNOR individuals, ITR-2 is applicable. In your case ITR-2 is applicable. Form 26AS is same for all.

- From A.Y. 2018-19, ITR -1 is for resident and ordinary residents individuals only . For previous years preceding A.Y. 2018-19,ITR-1 was for all ROR,RNOR and NRI individuals.

- Please check what residential status was declared in previous years ITR's. If ITR-1 is filed for A.Y. 2018-19 and 2019-20 being NRI then it is wrong selection of form.

 

For detailed discussion, please consult telephonically.

Vivek Kumar Arora
CA, Delhi
4840 Answers
1037 Consultations

5.0 on 5.0

Hi

 

As you are a non-resident, you cannot file ITR 1 now. You need to file ITR 2.

 

There is no change procedure. You need to file the new form.

 

26AS is same for residents and non-residents.

Lakshita Bhandari
CA, Mumbai
5687 Answers
909 Consultations

5.0 on 5.0

For FY 19-20, you can file/ revise ITR.

 

Due dates for revision of ITR for FY 18-19 have lapsed.

Lakshita Bhandari
CA, Mumbai
5687 Answers
909 Consultations

5.0 on 5.0

- For F.Y. 2019-20, you can file the revise return if already filed. For previous years wait for defective return notice if wrongly filed.

Vivek Kumar Arora
CA, Delhi
4840 Answers
1037 Consultations

5.0 on 5.0

The Itr form depends on your residential status and the sources of income. Also, the forms keeps changing year on year. 

if you have been nonresident you cannot use Itr 1. You should have used Itr 2. The last date to revise your returns for March 2019 has passed.  So nothing can be done unless you get a tax notice. 

for March 2020, tou can use Itr 2. You can change the forms year on year depending on the sources of your income and status. 

the 26AS is not different for residents or non residents. 

Jasmina Jain Shah
CA, Greater Mumbai
454 Answers
4 Consultations

5.0 on 5.0

Hi

 

RNORs and non-resident individuals have to file their income tax return in ITR-2 

No there is no difference

Karishma Chhajer
CA, Jodhpur
2450 Answers
29 Consultations

5.0 on 5.0

Dear Sir,

 

Currently you can file the revise ITR for only FY 19-20.

 

Now, you can't file return for FY 2018-19. The due date has been lapsed.

 

You can file the return only after receiving approval from commissioner. You need to file condonation of delay for the same,

 

Also, If you receive any notice from the income tax department then you can file the return.

 

We may help you in filing condonation of delay request.

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA