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:
- 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.