Overview
What is ITR-2?
ITR-2 is an income tax return form applicable to individuals and Hindu Undivided Families (HUFs) who have income from salary, capital gains (from sale of shares, mutual funds, property), more than one house property, foreign assets or income, or total income exceeding ₹50 lakh.
ITR-2 cannot be used by those who have income from business or profession — they must use ITR-3 or ITR-4. It is also used by directors in companies who do not have business income, and by individuals who are partners in a firm.
Expert Tip
Our CA team evaluates your specific business needs, state regulations, and long-term goals to recommend the most suitable option — saving you time and costly mistakes. Book a free 30-minute consultation before you apply.
Benefits
Key Benefits of ITR-2 Form Filing
Here are the most important advantages you unlock by completing this registration with Tax Gyani's expert assistance.
Capital Gains Expertise
Our CA accurately computes LTCG/STCG with indexation, exemptions, and set-off of losses.
Section 54 Maximization
Property sale exemptions under 54, 54EC, 54F fully analyzed and claimed.
Foreign Asset Compliance
Schedule FA accurately filled to avoid FEMA and Black Money Act penalties.
Loss Harvesting
Capital losses from one asset offset against gains from another — reducing tax significantly.
NRI Services
Full NRI ITR filing with DTAA benefits, NRE/NRO income handling, and TRC guidance.
CA-Certified Accuracy
Complex multi-schedule return reviewed and certified by qualified CA.
Documents Required
Documents Required for ITR-2 Form Filing
Keep these documents ready to ensure a smooth and fast registration process. Our team will guide you through each requirement.
Capital Gains Statement (from broker/CAMS/KFintech)
Property Sale/Purchase documents
Bank Account Statements (all accounts)
Foreign Asset/Income details (Form FA)
Rental income details and property documents
Investment proofs for deductions (80C, 80D etc.)
Home loan interest certificates
NRE/NRO account statements (if NRI)
Document Support
Not sure if your documents qualify? Share them with us and our experts will verify eligibility before you apply — completely free of charge.
Registration Process
Step-by-Step Process
Our streamlined process ensures minimal effort from your side. We handle all paperwork, filings, and follow-ups.
1
Document Collection
Share Form-16, capital gains statements, and other income documents with our team.
2
Income Computation
Our CA calculates short-term and long-term capital gains, indexation benefits, and exemptions.
3
Deduction Planning
Section 54, 54EC, 54F exemptions analyzed for property sale. All deductions maximized.
4
ITR-2 Preparation
Complete return prepared with all schedules — Capital Gains (Schedule CG), Foreign Assets (FA), etc.
5
Filing & Verification
ITR-2 e-filed and verified via Aadhaar OTP or Net Banking.
Compliance
Post-Registration Compliance
After your registration is complete, here are the ongoing compliance requirements you need to be aware of to stay legally compliant.
Post-Registration Compliance Checklist
- File ITR-2 by 31st July (non-audit cases)
- Pay advance tax by 15th March if liability > ₹10,000
- File ITR-2 even if income below exemption limit if foreign assets held
- Maintain capital gain computation statements for 6 years
- Self-assessment tax paid before filing
- Submit DTAA Form 67 (if foreign tax credit claimed)
FAQs
Frequently Asked Questions
Everything you need to know before applying for ITR-2 Form Filing.
Individuals and HUFs with: income from salary, capital gains (stocks, MF, property, bonds), more than one house property, foreign assets/foreign income, income exceeding ₹50 lakh, and directors in companies (without business income).
LTCG (Long-Term Capital Gains) arises when assets held for specified periods are sold — e.g., equity shares/MF units held > 1 year. STCG (Short-Term Capital Gains) is on shorter holding periods. Tax rates differ: LTCG on equity taxed at 10% above ₹1 lakh; STCG at 15%.
Can I claim Section 54 exemption in ITR-2?
Yes. Section 54 exempts capital gains from sale of residential property if reinvested in another residential property within specified timelines. We calculate and claim this exemption accurately in your ITR-2.
What is Schedule FA in ITR-2?
Schedule FA (Foreign Assets) must be filled by residents who hold foreign bank accounts, foreign securities, foreign property, or have foreign income or beneficial interest in foreign entities. Non-disclosure attracts severe penalties under FEMA/Black Money Act.
How is mutual fund capital gain taxed?
Equity MF units held for more than 1 year attract LTCG tax at 10% (above ₹1 lakh). Held for less than 1 year attracts STCG at 15%. Debt MF units (from FY 2023-24) are taxed at slab rates regardless of holding period.