ITR-2 Form Filing – Income Tax Return

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The ITR-2 form is a significant income tax return form used by Indian citizens, as well as non-residents to file their tax returns with the Income Tax Department of India. Individuals who are not eligible to use ITR-1 can use the ITR-2 form.

Individual and Hindu undivided family who have their income for financial year through salary or pension, is more than home property, income from capital gains, income from foreign property, income from income, income, business or profession is a partner (not proprietor) ) And other sources, as well as using ITR-2, including lotteries, reshors, legal gambling, and are eligible to file their IT returns. Such persons who are not eligible to use ITR because their income is more than 50 lakhs, they also need to file using ITR-2.

Income Tax Returns ITR-2 Form

Filing Income Tax Returns ITR-2 Form

The ITR-2 form can be filed in three ways:

Filling the ITR-2 form using the digital signature certificate
Transmitting data electronically to ITR-2 under electronic verification code.
In ITR-2, the data is sent electronically and then by post (returning) returns form ITR-V to the income tax office.
Under the third law, the assessee who fills the ITR-2 form must complete the acknowledgment in ITR-V. After preparing ITR-V, the assessee should print two copies of the form ITR-V. A copy of the ITR-V duly signed by the assessee, post bag number 1, electronic city office, Bengaluru-560100 (Karnataka) is to be sent by ordinary post. The other copy can be maintained by the assessee for its record.

BASIC

all inclusive fees

Rs.700
  • Income tax return filing for an individual with more than one house property income.
STANDARD

all inclusive fees

Rs.1200
  • Income tax return filing for an individual with foreign income or assets.
PREMIUM

all inclusive fees

Rs.2000
  • Income tax return filing for an individual with capital gains.

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Who can use the ITR-2 form?

ITR-2 should be filed by those individuals and HUF, which are not eligible to enter ITR-1 intuitive form for the following reasons:

1.Revenue of more than Rs. 5 million
2.External property / income
3.From the income of agriculture, which is Rs. More than. 5000,
Taxable capital gains
4.Having a business or profession as a participant
5.Property of more than one house

Who should not file an ITR-2?

The ITR-2 form should not be filed by someone who has income under the head of business or has a proprietorship profession. The ITR-2 form can not be filed by any company or LLP or other type of legal entity.

Should ITR-2 be filed?

The ITR-2 form is used when the assessee’s income falls in the following categories:

1.Income earned through the sale of property or property (capital gains)
2.Income from more than one housing property
3.Income from countries outside India
4.Income in any firm as a participant (not proprietorship)
5.Income from agriculture above Rs. 5,000
6.Income from any windfall like lotteries or horse racing
7.Salary / pension, income from housing property, other sources which are more than Rs. 5 million

What is the due date for filling the ITR-2 form?

The ITR-2 form should be filed by individuals and HUF on or before July 31 of each year.

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