ITR-2 form can be used for filing income tax return of individuals and HUFs who have DIN or income earned from a business entity. File ITR-2 by online.
Penalty upto Rs.10000/- will be levied, if not filed on due date.
Documents Required For ITR-2 Filing
- Salary Slips
- Interest certificates from Post Offices & Banks
- Form 16A/16B/16C
- Form 26AS
- Tax-Savings Investment Proofs
- Deductions under Section 80D to 80U
- Home Loan statement from NBFC/Bank
- Capital Gains
- Aadhar Card
All About Form ITR-2 Form Filing – Income Tax Return.
The ITR-2 Form is an important Income Tax Return form used by Indian citizens, as well as Non Resident Indians to file their Tax Returns with the Income Tax Department of India. Individuals who are not eligible to use ITR-1 can use the ITR-2 Form.
Individuals and Hindu Undivided Families who have their Income for the Financial Year through Salary or Pension, more than House Property, Income from Capital Gains, Income from foreign assets/Income, Income from business or profession as a partner (not proprietor) and other sources including lottery, racehorses, legal gambling are eligible to file their IT Return using ITR-2. Individuals who are not eligible to file using ITR-1, because of their income exceeding ₹ 50 Lakhs, also need to file using ITR-2.
Who all can use ITR-2 Form?
ITR-2 must be filed by individuals and HUFs who are not eligible to file ITR-1 Sahaj form, because of following reasons:
- Income exceeding Rs. 50 Lakhs
- Having foreign assets / income
- Having agricultural income which is more than Rs. 5,000,
- Having taxable capital gains
- Having income from business or profession as a partner
- Having more than one house property
Who all cannot use ITR-2 Form?
- ITR-2 form should not be filed by any individual who has income under the head of Business or Profession from a proprietorship.
- ITR-2 form can also not be filed by a company or LLP or other types of legal entity.
Pay As You Widen Pricing
(ALL INCLUSIVE PRICING)
Income tax return filing for persons having DIN or owing private limited company shares.
IIncome tax return filing for persons having capital gains(LTCG or STCG).
Income tax return filing for persons having foreign income or assets.