Who can use ITR-2 form for filing income tax return?

itr2The Income Tax Department has provided various Income Tax Forms for the assessees in order to file their return forms beneficially. The filing of return Forms depends upon the income earned by an assessee. The detailed features of ITR 2 explaining its applicability is mentioned below: Who can use the ITR-2 ITR 2 is used by an individual or a Hindu Undivided Family whose total income comprises following income:

  1. Income from Salary / Pension
  2. Income from House Property
  3. Income from Capital Gains
  4. Income from Other Sources (including income from Winning from Lottery and Race Horses)

Moreover, if the income of spouse, minor child, etc. is to be clubbed with the income of the assessee, then ITR 2 can be used if such income falls in any of the above categories. Who cannot use the ITR-2 ITR 2 is not used by

  1. An Individual/ HUFs if his total income includes any income taxable under the head “Profit or Gain from Business or Profession. In other words, business or professional income does not form the part of ITR-2.
  2. The person already using ITR-1 Form.
  3. A Partnership Firm having exempt income by way of shares (& not earning any income by way of interest, salary, etc.).

Points to be noted:

  • No annexure of any documents is required.
  • The form can be submitted to IT Department either manually or electronically (with or without digital signature).

We at Taxmantra.com would be able to help you in filing of tax returns and also other tax related issues. Please feel free to check this page – Income tax return Filing  OR call us at +91 88 208208 11, +919230033070  OR email us at ‘info@taxmantra.com’