ITR 2 Return
Income Tax Department of India has categorized its taxpayers based on their income earned in a year, source of income, and other factors. There is also a specific form for each category, which is necessary for income tax filing. ITR Form 2 is one such form used for filing an income tax return by individuals and Hindu Undivided Family (HUF). The last date of filing ITR 2 is 31st July of every financial year.
Want to know More ?
ITR Return 2 required mandatory
Following sources must file an form ITR-2
- Income from a regular monthly paycheck or pension
- Income from the rent paid each month for a house or a number of units
- From interest gains or penalties or the sale of an estate. Increases or losses in wealth
- Via extra references ( Lottery earning, revenue from legal means of gambling)
- From resources or assets elsewhere
- More than ₹5000 is earned through agriculture each month.
Pricing
(Simple & Clear Pricing. No Hidden Charges)
| Government Fee | Rs 0 |
| Professional Fees | Rs 1,459 |
| Goods & Service Tax | Rs 00 |
| Total Cost | Rs 1459 |
ITR 2 Return
(All you need to know)
ITR 2 Form is an Important form income tax return form that is used by the Indian Citizens as well as the NRIs to file the return with the Income-tax department of India. The taxpayers who are not eligible to file ITR 1 can file ITR 1 to file the income tax returns. ITR 2 can be filed by the individuals and Hindu Undivided Families who have their income for the financial year through salary, pension, more than one property, income from capital gains, income from foreign assets, business or income from a profession as a partner and other sources that include lottery, Racehorses, legal gambling.
Also, an individual who is not eligible to file using ITR 1 as the income is exceeding Rs.50 Lakh can file ITR 2 Form.
1. Income from Salary/Pension;
2. Income from House Property;
3. Income from Capital Gains;
4. Income from Other Sources (including Winnings from Lottery and Income from Race Horses)
5. Foreign Assets
Documents required to file ITR 2
Following Documents are required :-
- 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: ITR-2 Offline:- The ITR-2 can be picked up at your local income tax office or obtained on the website of the government’s income tax department.
Personally filing ITR requires a lot of attention to detail. Even if you miss a single information the process cannot be completed. You can complete ITR to online filing in just 2 steps through Taxtorium.
Provide your basic required information and book a slot with our tax experts. Our team will get in touch with you and provide all the required clarity regarding the process
As explained on the call, provide the required information to our tax experts. We will initiate the paper work on your behalf.
Our team of tax experts will file form ITR on your behalf and keep you updated on the process.
More Question? A specialist is here to help
Call us at: +91 820 956 9514 or
Email us: info@taxtorium.com
Frequently Asked Questions
What is ITR 2?
ITR 2 form is one of the forms available for taxpayers to pay their Income Tax Returns. For the ease of filing ITR, the income tax department has categorised different forms on the basis of different incomes.
The ITR-2 Form is for individuals and HUFs that are not engaged in any profession or business.
Is ITR 2 for salaried employees?
Any individual or HUF that has income in the form of interest as well as income from business profits and gains from a profession is not eligible to file an ITR-2. salary.
When I file my ITR do I need to attach any documents?
Though it is not mandatory to attach any documents when filing your ITR, but it is highly recommended that you must keep all the income related documents safe and handy, as the tax authorities may ask you to present them for assessment.
On the basis of property, what is the difference between ITR1 and ITR2?
Under ITR-1 the individual earns from 1 house property only whereas under ITR-2 the individual earns from more than 1 house property.
What happens if I never file ITR?
A penalty of 3 months to 2 years in prison may arise from the loss to file an ITR. A sentence of 3 months to 2 years in jail may occur from the loss to file an ITR.
Are you looking for GST Registration?
Apply for GST registration @ ₹ 1,499/-
- Simple
- Secure
- Smart
- Online
