Income Tax Return 2 – (ITR-2)

ITR-2 Return Filing

For Individuals and HUFs not having income from profits and gains of business or profession

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₹2,499Onwards
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    Who Can file this Form?

     ITR-2 form is for individuals and Hindu Undivided Families (HUFs) who fall under any of the following categories:

    • The income of the taxpayer must be more than Rs.50 lakh
    • Income can be created via salary or from a pension
    • Income generated from house property
    • Income generated from sources such as lottery or horse races
    • In case the taxpayer is a company’s director)
    • Agricultural income of the taxpayer is higher than Rs.5,000
    • Revenue produced from capital gains
    • In case any investments were made in equity bonds unlisted during the financial year
    • Income is generated from foreign assets and foreign income

    Who Cannot Opt for this Form?

    • Taxpayers who make an income from profession and business cannot opt for ITR 2 form.

    Documents & Information Required

    Individual :

    • Basic Information –PAN, AADHAAR, Account No & IFSC Code, Income Tax Website Credential
    • Form 16
    • Bank Statement

    For Property :

    • Home Loan Certificate
    • Property Tax Paid
    • Property Address with Pin Code
    • If Rented – Rent Per Month, Name of Tenant, Tenant PAN

    Details of Other Income :

    • Saving Interest
    • Dividend income from Equity
    • Dividend income from Mutual Funds
    • FDR Interest
    • PPF Interest
    • Any Other Income

    Deducations :

    • 80C – Investment – PPF, PF, LIC, ELSS, School Fees Receipts
    • 80D – Mediclaim – For Self & Family , For Parents (Mention if they are senior citizen)
    • NPS Contribution Self
    • House Rent Paid IF any

    In case of Equity or Mutual Funds – Excel report with following informations

    • Date of Purchase
    • Date of Sale
    • Purchase Cost
    • Sale Proceed
    • In case of Property
    • Date of Purchase
    • Date of Sale
    • Purchase Cost with Stamp Duty & Registration Fees
    • Sale Proceed
    • Any Transfer Expenses

     

    New Property Purchased details :

    • Date of Purchase
    • Purchase Cost with Stamp Duty & Registration Fees