File Income Tax Return (ITR 2) Online
in India
Easily File Income Tax Return (ITR 2) Online for individuals and HUFs earning from capital gains, multiple properties, or foreign assets with ease.
What Is ITR-2 Return Filing?
ITR-2 is one of the most commonly used income tax return forms in India, specifically designed for individuals and Hindu Undivided Families (HUFs) who do not earn income from business or profession. This form is applicable to taxpayers who have income from multiple sources such as salary or pension, more than one house property, capital gains from the sale of property, shares or mutual funds, as well as income from foreign assets or overseas sources. Unlike ITR-1 (Sahaj), which is meant for taxpayers with simpler income structures, ITR-2 is mandatory for individuals with more complex financial situations, including those with agricultural income above ₹5,000, lottery or betting income, or foreign bank accounts and assets.Filing ITR-2 is essential because it ensures compliance with the Income Tax Act and helps individuals accurately report their capital gains, foreign income, and multiple property ownership details. It is particularly important for residents, non-residents, and RNORs (Resident but Not Ordinarily Resident) who are required to disclose overseas assets and income earned abroad. Moreover, submitting ITR-2 on time not only prevents penalties and late fees under Section 234F but also helps in claiming eligible deductions under sections like 80C, 80D, and 80G, while maintaining a valid financial record for future needs such as loan applications or visa approvals.
Why File ITR-2?
Filing ITR-2 offers essential legal and financial advantages
Mandatory Compliance
Required under Section 139(1) if your income crosses the basic exemption limit or includes complex sources.
Claim Capital Gain Exemptions
Only ITR-2 allows you to report and claim deductions/exemptions on capital gains.
Visa & Loan Applications
Filed ITRs are accepted as official income proof for visa processing, home loans, and financing.
Report Foreign Assets
ITR-2 allows disclosure of foreign assets/income as required by law.
Avoid Penalties
Late or incorrect filing may lead to penalties up to ₹5,000 or scrutiny by the IT Department.
Who Can File ITR-2?
ITR-2 is applicable to individuals and HUFs with income from:
- Salary or Pension
- More than one house property
- Capital Gains (short-term or long-term)
- Other sources (lottery, horse racing, etc.)
- Agricultural income exceeding ₹5,000
- Foreign Income or Ownership of Foreign Assets
- RNORs and Non-Residents
- Directors in listed/unlisted companies
Who Cannot File ITR-2?
You are not eligible to file ITR-2 if:
- You have business or professional income
- You are eligible to file ITR-1 (Sahaj)
- You are claiming tax relief under Sections 90/90A/91 and need to use ITR-3
Documents Required for ITR-2 Filing
ITR-2 is annexure-less, but these documents are essential for correct filing:
- Personal Details:
- PAN Card
- Aadhaar Card
- Bank Account Details
- Income Documents:
- Form 16 / 16A (for salary & TDS)
- Form 26AS, AIS, and TIS
- Capital Gains Statements (shares/property)
- Interest Income Statements
- Foreign Income or Asset Documents (if applicable):
- Bank and investment records abroad
- Deduction Proofs:
- LIC, ELSS, PPF (Section 80C)
- Health Insurance (80D)
- Education Loan, Home Loan, Donations
ITR-2 Filing Due Dates
- Individuals (Non-Audit): 15 Sept 2025
- Audit Cases: 31 Oct 2025
- Transfer Pricing: 30 Nov 2025
- Revised / Belated Returns: 31 Dec 2025
- Updated Return: Up to 12 months from end of assessment year
What Happens After Filing?
ITR-2 is applicable to individuals and HUFs with income from:
- E-Verify Return:
- Use Aadhaar OTP or EVC. If that fails, send signed ITR-V to CPC Bengaluru for completion.
- Track Status:
- Monitor ITR processing and refund status online.
- Revise If Needed:
- Made an error? File a revised return under Section 139(5).
- Respond to Notices:
- Get professional help to address any IT department queries.
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What Happens After Filing?
ITR-2 is applicable to individuals and HUFs with income from:
- E-Verify Return:
- Use Aadhaar OTP or EVC. If that fails, send signed ITR-V to CPC Bengaluru for completion.
- Track Status:
- Monitor ITR processing and refund status online.
- Revise If Needed:
- Made an error? File a revised return under Section 139(5).
- Respond to Notices:
- Get professional help to address any IT department queries.
Structure of the ITR-2 Form
ITR-2 is divided into major parts and multiple schedules:
- Part A: Personal details like Name, PAN, Aadhaar, etc.
- Part B-TI: Computation of Total Income (salary, capital gains, etc.)
- Part B-TTI: Computation of Tax Liability
Verification Section
Schedules Include:
- Capital Gains (Schedule CG)
- Foreign Assets (Schedule FA)
- Deductions (80C to 80U)
- TDS/TCS, Advance Tax, and Relief Claims
Penalty for Late Filing ITR-2
| Total Income | Late Fee |
|---|---|
| Below ₹5 lakh | ₹1,000 |
| above ₹5 lakh | ₹5,000 |
Unpaid taxes also incur 1% monthly interest. Late filing may:
- Lead to notices or prosecution
- Result in loss of refund eligibility
- Prevent carry forward of losses
FAQ
Got Questions? We’ve Got Clear Answers
Find quick, reliable answers to your most common questions here
Yes, ITR-2 is the correct form for disclosing foreign income and foreign assets.
ITR-1: For resident individuals with income up to ₹50 lakh from salary, one house property, and other sources.ITR-2: For individuals and HUFs with income from capital gains, more than one property, foreign income/assets, or as a company director.
A delay in filing ITR-2 can attract a late fee of ₹1,000 (if income is below ₹5 lakh) or ₹5,000 (if income is above ₹5 lakh) under Section 234F. Additional 1% monthly interest on unpaid taxes may also apply.
No, ITR-2 is not applicable if you have income from business or profession. For business income, you need to use ITR-3 or ITR-4 depending on your situation.
Yes, all exempt income (like agricultural income, interest on tax-free bonds, dividends) must be reported under the 'Exempt Income' section of the ITR-2 form.
