ITR 2 Return Filing
ITR-2 is a more comprehensive form and is applicable to individuals and Hindu Undivided Families (HUFs) with income from multiple sources or complex financial situations. It is suitable for those who have income from:
Salary or Pension
More than one House Property
Capital Gains (both short-term and long-term)
Foreign Assets or Income
Agricultural income exceeding Rs. 5,000
Any other source of income
Documents Required:
Form 16 of all the employers of relevant FY
Saving or FD Interest Certificate
Bank Statement of relevant FY
Tax Saving Proofs (LIP, Mediclaim, FD over 5 years receipts etc.)
Home Loan Interest Certificate
Details of any other income
Rental Receipts
Donation Receipts
Tution Fees Receipts
Capital Gain reports
Foreign Assets holding
Individuals and HUFs: ITR-2 is meant for individuals and Hindu Undivided Families. If you fall into one of these categories, this form could be your go-to choice.
Income Complexity: ITR-2 is your form of choice if you have a more complex income situation, such as income from multiple sources, capital gains, or foreign assets. It's designed to capture these complexities accurately.
Exempt Income: If you have income that's exempt from tax but still needs to be reported, ITR-2 provides space for this. Whether it's agricultural income exceeding ₹5,000 or dividends from shares, you can report it here.
Foreign Assets: Individuals with foreign assets or income from foreign sources should use ITR-2 to ensure they comply with India's tax laws.