ITR-2 Form Filing - Income Tax Return

The ITR-2 kind is a very important revenue enhancement come kind employed by Indian voters, furthermore as Non Residents to file their Tax Returns with the revenue enhancement Department of Bharat. People UN agency aren’t eligible to use ITR-1 will use the ITR-2 kind.

Individuals and Hindu Undivided Families UN agency have their financial gain for the yr through wage or Pension, over House Property, financial gain from Capital Gains, financial gain from foreign assets/Income, financial gain from business or profession as a partner (not proprietor) and different sources together with lottery, racehorses, legal gambling area unit eligible to file their IT come exploitation ITR-2. People UN agency aren’t eligible to file exploitation ITR-1, thanks to their financial gain Olympian ₹ fifty Lakhs, additionally have to be compelled to file exploitation ITR-2.

Who can use ITR-2 form?

ITR-2 should be filed by people and HUFs UN agency aren’t eligible to file ITR-1 Sahaj kind, thanks to following reasons:

  1. income olympian Rs. 50 Lakhs
  2. Having foreign assets / financial gain
  3. Having agricultural financial gain that is over Rs. 5,000,
  4. Having rateable capital gains
  5. Having financial gain from business or profession as a partner
  6. Having over one house property
Who should not file ITR-2 form?

ITR-2 kind shouldn’t be filed by someone UN agency has financial gain beneath the pinnacle of Business or Profession from a ownership. ITR-2 kind may not be filed by a corporation or LLP or different forms of legal entity.

When should ITR-2 be filed?

ITR-2 kind is to be used once the assessee has financial gain that falls into the below category:

  1. increased financial gain through the sale of assets or property (Capital Gains)
  2. financial gain from over one housing property
  3. financial gain from countries outside of Bharat
  4. financial gain as a partner in any firm (not proprietorship)
  5. financial gain from agriculture on top of Rs five,000
  6. financial gain from any windfall like lotteries or racing
  7. financial gain from Salary/Pension, Housing Property, different sources that exceeds Rs. 50 Lakhs
What is the due date for filing ITR-2 form?

ITR-2 kind should be filed by people and HUFs on or before thirty first July of each year.

Filing Income Tax Return ITR-2 Form

ITR-2 form is filed under 3 methods:
  1. Filing ITR-2 kind exploitation digital signature certificate.
  2. transmission the info in ITR-2 kind electronically beneath electronic verification code.
  3. By transmission the info in ITR-2 kind electronically so mailing (By post) the come reciprocally kind ITR-V to the revenue enhancement workplace.


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