Online Income Tax Return (ITR) Form-2

Individuals and Hindu Undivided Family (HUFs), with income from other sources are required to file their ITR in Form IT

FITR – 2 Form Filing

Income Tax Department (ITD) of India has differentiated and categorized tax- payers on the basis of their source of income and allocated a specific tax filing Form to each category for filing their annual income tax returns (ITR). Individuals or HUFs (Hindu Undivided Families) making income in the form of salary or pension and not eligible to file Form ITR -1 are instructed to comply their annual ITRs by filing Form ITR -2.

The authorities have classified the eligibility criteria and sources of income to be considered for itr_2 as follows:

  • Individuals of HUFs with income exceeding INR 50 Lacs
  • Income from more than one housing property
  • Profit or loss from the sale of property or an investment
  • Income from agricultural which is to be more than INR 5,000
  • Income from taxable capital gains
  • Business or Profession incomes as a partner
  • Income from means such as legal gambling, lottery, winning bets on race horses etc.
  • Income from foreign assets or investments

    • ITRs through Form itr_2 must be filed by July 31st and is valid for both Indian residents as well as Non Resident Indians (NRIs).

    Individual or HUFs, however, earning any business or profession income under a proprietorship model are not eligible to file their ITR through Form ITR- 2

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