ITR-2 Filing Guide: Steps for Individuals & HUFs on Income Tax Portal
Source: ET Wealth
Individuals and Hindu Undivided Families (HUFs) not eligible for the simpler ITR-1 form can now file their Income Tax Returns (ITR) using the ITR-2 form online. This guide outlines the essential documents and the step-by-step process for submission on the official income tax e-filing portal.
- ▸ITR-2 is for individuals and HUFs not eligible for ITR-1.
- ▸Gather all financial documents before starting the online filing.
- ▸Verify pre-filled data carefully in Part A of the ITR form.
- ▸E-verification must be completed within 30 days of submission.
- ✓ITR-2 is for individuals and HUFs not eligible for ITR-1.
- ✓Gather all financial documents before starting the online filing.
- ✓Verify pre-filled data carefully in Part A of the ITR form.
- ✓E-verification must be completed within 30 days of submission.
The Income Tax Department provides the ITR-2 form for individuals and HUFs whose income sources do not qualify them for the ITR-1 Sahaj form. This typically includes those with income from sources like house property (more than one), capital gains, foreign assets, or income from sources outside India.
Documents You'll Need
- PAN card
- Aadhaar card
- Form 16 (if employed)
- Form 16A, 16B, 16C (for TDS on salary, other than salary, rent, etc.)
- Bank account statements
- Details of investments (e.g., mutual funds, shares, property)
- Capital gains statements
- Details of foreign assets or income
- Any other relevant financial documents
Step-by-Step Online Filing Process
The e-filing portal guides taxpayers through the process. Before starting, ensure you have all the necessary documents readily available. The portal requires filling out specific schedules based on your income and financial activities.
Part A: General Information
This section requires you to fill in your personal details. The portal often provides pre-filled data based on your PAN. It is crucial to verify this information carefully and update any discrepancies or missing details. You may also need to update your profile information if it has changed.
Filling Other Schedules
Based on your income sources, you will need to fill in the relevant schedules. These can include details about salary income, income from house property, capital gains, income from other sources, and foreign assets. Ensure accuracy in reporting all income and deductions.
Verification and Submission
Once all schedules are completed, you can preview your return. After reviewing for accuracy, you can submit the return electronically. A crucial step following submission is e-verification. You must complete the e-verification of your tax return within thirty days of submitting it. This can be done using Aadhaar OTP, net banking, or by sending a signed copy of the ITR-V acknowledgement to the CPC, Bengaluru.
This article provides general information and is not a substitute for professional tax advice.
Some listings may be sponsored. Mutual fund data is from AMFI and for information only — funds are subject to market risks. Review terms & suitability before investing. Not investment advice.
Frequently Asked Questions
Who is eligible to file ITR-2?
ITR-2 is for individuals and Hindu Undivided Families (HUFs) who are not eligible to file ITR-1. This typically includes those with income from house property (more than one), capital gains, foreign assets, or income from sources outside India.
What documents are needed for ITR-2 filing?
Essential documents include your PAN card, Aadhaar card, Form 16, TDS certificates (Form 16A, 16B, 16C), bank statements, details of investments, capital gains statements, and any documents related to foreign assets or income.
How long do I have to e-verify my ITR-2 after submission?
You must complete the e-verification of your submitted ITR-2 within thirty days of filing the return.
Join the Arth Vani channels
Daily news summaries, IPO & market alerts on Telegram and WhatsApp.
Because you read about Personal Finance
BreakingGold Prices Dip Slightly Today: Check Rates at Major Retailers
Gold prices have seen a minor decrease today across leading Indian jewellers like Tanishq and Malabar Gold & Diamonds. While retailers adjusted their 22-carat gold rates downwards, the India Bullion and Jewellers Association reported an increase for other gold and silver purities.
BreakingFiling ITR-2: Mandatory Rules for Indians with Foreign Assets or Overseas Income
Resident Indian taxpayers holding foreign bank accounts, stocks, or properties must file ITR-2 by July 31. Failure to disclose these assets under the mandatory schedules can lead to heavy penalties under the Black Money Act.
Breaking₹20,000 Monthly Savings: Should You Choose Mutual Fund SIP or Bank RD?
Comparing a ₹20,000 monthly investment in Systematic Investment Plans (SIPs) versus Recurring Deposits (RDs) over a five-year period. While RDs offer guaranteed returns and safety, SIPs provide the potential for significantly higher wealth creation through market exposure.
Related Stories
BreakingITR-2 ಫೈಲಿಂಗ್ ಮಾರ್ಗದರ್ಶಿ: ವ್ಯಕ್ತಿಗಳು ಮತ್ತು HUF ಗಳಿಗಾಗಿ ಆದಾಯ ತೆರಿಗೆ ಪೋರ್ಟಲ್ನಲ್ಲಿನ ಹಂತಗಳು
ಸರಳ ITR-1 ಫಾರ್ಮ್ಗೆ ಅರ್ಹರಲ್ಲದ ವ್ಯಕ್ತಿಗಳು ಮತ್ತು ಹಿಂದೂ ಅವಿಭಜಿತ ಕುಟುಂಬಗಳು (HUFs) ಈಗ ITR-2 ಫಾರ್ಮ್ ಅನ್ನು ಬಳಸಿಕೊಂಡು ತಮ್ಮ ಆದಾಯ ತೆರಿಗೆ ರಿಟರ್ನ್ಸ್ (ITR) ಅನ್ನು ಆನ್ಲೈನ್ನಲ್ಲಿ ಸಲ್ಲಿಸಬಹುದು. ಈ ಮಾರ್ಗದರ್ಶಿ ಅಧಿಕೃತ ಆದಾಯ ತೆರಿಗೆ ಇ-ಫೈಲಿಂಗ್ ಪೋರ್ಟಲ್ನಲ್ಲಿ ಸಲ್ಲಿಕೆಗಾಗಿ ಅಗತ್ಯ ದಾಖಲೆಗಳು ಮತ್ತು ಹಂತ-ಹಂತದ ಪ್ರಕ್ರಿಯೆಯನ್ನು ವಿವರಿಸುತ್ತದೆ.
BreakingITR-2 फाइलिंग मार्गदर्शक: व्यक्ती आणि HUF साठी आयकर पोर्टलवरील पायऱ्या
जे व्यक्ती आणि हिंदू अविभक्त कुटुंब (HUF) सोप्या ITR-1 फॉर्मसाठी पात्र नाहीत, ते आता ITR-2 फॉर्म वापरून त्यांचे आयकर रिटर्न (ITR) ऑनलाइन दाखल करू शकतात. हे मार्गदर्शक अधिकृत आयकर ई-फाइलिंग पोर्टलवर सादर करण्यासाठी आवश्यक कागदपत्रे आणि चरण-दर-चरण प्रक्रिया स्पष्ट करते.
BreakingITR-2 फाइलिंग गाइड: व्यक्तियों और HUF के लिए आयकर पोर्टल पर चरण
जो व्यक्ति और हिंदू अविभाजित परिवार (HUF) सरल ITR-1 फॉर्म के लिए पात्र नहीं हैं, वे अब ITR-2 फॉर्म का उपयोग करके अपना आयकर रिटर्न (ITR) ऑनलाइन दाखिल कर सकते हैं। यह गाइड आधिकारिक आयकर ई-फाइलिंग पोर्टल पर जमा करने के लिए आवश्यक दस्तावेजों और चरण-दर-चरण प्रक्रिया की रूपरेखा तैयार करती है।
Breakingआज सोने की कीमतों में मामूली गिरावट: प्रमुख खुदरा विक्रेताओं पर दरें जांचें
तनिष्क और मालाबार गोल्ड एंड डायमंड्स जैसे प्रमुख भारतीय ज्वैलर्स में आज सोने की कीमतों में मामूली कमी देखी गई है। जहां खुदरा विक्रेताओं ने अपने 22-कैरेट सोने की दरों को नीचे की ओर समायोजित किया, वहीं इंडिया बुलियन एंड ज्वैलर्स एसोसिएशन ने अन्य सोने और चांदी की शुद्धता के लिए वृद्धि दर्ज की।