Home / ITR-2 Return Filing
What is ITR-2 Return Filing?

The ITR-2 Form is for individuals and HUFs not carrying any profession or business. The ITR-2 Form can be filed by individuals and HUFs receiving income other than "Profits and Gains from Business or Profession". For example, persons having income from the below sources can file ITR-2 Form:

  • Salary/Pension
  • House Property
  • Capital Gains/loss on the sale of investments/property (Both Short Term and Long Term)
  • Other Sources (including Winning from Lottery, bets on Race Horses, and other legal means of gambling)
  • Foreign Assets/Foreign Income
  • Agricultural Income more than Rs 5000
  • Resident not ordinarily resident and a Non-resident

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 is eligible to use this Return Form?
  • Income exceeding Rs. 50 Lakhs
  • A non-resident or not-ordinary resident.
  • A resident having any asset located outside India or signing authority in any account.
  • Taxpayers who earn agriculture income above Rs. 5000/-.
  • Income from winnings of a lottery, horse race, gambling, etc. under the head of other sources.
  • Both short and long-term capital gains/losses from the sale of property/investments/securities. (if there is only long term capital gain exempt u/s 10(38) then ITR-1 can be filed)
  • Having income from business or profession as a partner
  • Having more than one house property
Who is not eligible to use this Return Form?
  • Any individual or Hindu Undivided Family with income fully or partially earned from a business or profession
  • Individuals who are eligible to fill out the ITR-1 Form
  • Individuals who are partners in a Partnership Firm 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 the legal entity.
Documents required for ITR-2 filing
  • A copy of last year's tax return
  • Bank Statement
  • TDS certificates
  • Savings certificates/Deductions
  • Interest statement showing interest paid to you throughout the year.
  • Balance Sheet, P&L Account Statement and other Audit Reports wherever applicable.
  • PAN Number
  • Aadhaar Number
  • All the bank account details of the assessee
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