ITR-2 Filing
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Income tax return filing for persons having DIN or owing private limited company shares.
Income tax return filing for persons having capital gains.
Who can file Form ITR-2?
- Income from Salary/Pension
- Income from House property ( can be from more than one house property)
- Income from Capital gains
- Income from other sources (Lottery, bets on horses, and other gambling)
- Foreign Assets/Foreign Income
- Agricultural income more than Rs.5000
- A resident is not an ordinary resident and an NRI.
- Also, a director of any company and an individual who is invested in unlisted equity shares of a company should file their returns in ITR-2
Who is not eligible to file Form ITR-2?
- Any individual or Hindu Undivided Family with income that is fully or partially earned from the business or profession.
- Individuals that are eligible to file ITR 1 Form.
- Individuals who are partners in a Partnership Firm.
What documents are required to file ITR 2 returns?
- Copy of the previous year’s tax return
- Bank Statement
- TDS Certificate
- Savings Certificate/ Deductions
- Interest Statement that shows the interest that is paid throughout the year.
- Balance sheet, P & I, Account Statement, and other Audit reports wherever they are applicable.
How to file Form ITR 2?
The ITR 2 Form can be filed with the Income Tax Department either online or offline:
- Either by furnishing the return in a paper for. When paper returns are made at the time of submission of the paper returns an acknowledgment is issued by the Income Tax Department to the assessee.
- By furnishing the return electronically using the Digital Signature. ITR 2 forms are submitted by the assessee electronically using the Digital Signature Certificate an acknowledgment is received to the registered Email Id.
- It can also be done by transmitting the data in the return electronically under an electronic verification code.
- It can be done by transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR V.
- By furnishing a bar-coded return.