Why Choose IndiaFilings for ITR-2?

Read Time:4 Minute, 38 Second

Expert Guidance: Our experienced professionals have complete understanding on what is ITR2 and will provide expert guidance throughout the how to file ITR 2 process, ensuring accuracy and compliance.
Convenience: We offer a convenient online platform that allows you to file your returns from the comfort of your home or office. Say goodbye to long queues and paperwork!
Accuracy: Our thorough review process guarantees that your ITR2 form filing is error-free, minimizing the risk of tax-related issues in the future.
Timely Filing: We understand the importance of filing your taxes on time. With IndiaFilings, you can rest assured that your returns will be filed promptly to avoid penalties.

Contact IndiaFilings today, and our team will assist you every step of the way. Enjoy peace of mind knowing that your taxes are in expert hands.

Documents Required For ITR-2 Return Filing

Form 16

Bank Statement

Details of Other Income

Home Loan Repayment Schedule

Rental Receipts

Donation Receipts

Insurance Payments

Mutual Fund Investments

Medical Bills

School / College Bills

Salary Slips

ITR-2 Return Filing FAQ’s

What is ITR2?

Here’s what is ITR2 all about, ITR-2 is an Income Tax Return form in India used by individuals and Hindu Undivided Families (HUFs) who have income from various sources but do not have income from business or profession.

Who can file ITR 2?

One who can file ITR 2 are the individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession. It is suitable for those with income from salary, pension, multiple properties, capital gains, or foreign assets.

What is the due date for filing ITR-2?

The due date for filing ITR-2 typically falls on July 31st of the assessment year. However, it can be extended by the government if needed.

Can I file ITR-2 online?

Yes, you can file ITR-2 online on the official Income Tax Department website or through authorized e-filing portals.

Do I need to attach any documents with ITR-2?

No, ITR-2 is an annexure-less form, and you do not need to attach any documents when filing it.

What is the penalty for late filing of ITR-2?

If you file ITR-2 after the due date but before December 31st of the assessment year, you may be liable for a late filing fee of up to Rs 10,000.

How to file ITR 2?

Here is the brief process on how to file ITR 2 in India, gather documents like Form 16 and capital gains statements. Log in to the Income Tax Department’s e-filing portal, fill in personal and income details, and report capital gains. Calculate your tax liability, pay any dues, and submit the form online. Finally, e-verify your return using Aadhaar OTP, net banking, or by sending a signed ITR-V form to the CPC.

How do I calculate my tax liability using ITR-2?

ITR-2 automatically calculates your tax liability based on the income and deductions you provide in the form.

Can I file ITR for last 2 years now?

Yes, you can file a belated return for the last 2 years, but penalties may apply. This solves the query of can I file ITR for last 2 years now arising among the people.

What is the difference between ITR-1 and ITR 2?

ITR-1 is for individuals with income from salary, house property, and other sources, while ITR 2 is for those with additional income from capital gains, foreign assets, or foreign income.

Can I use ITR-2 if I have business income?

No, individuals with business or profession income should use the appropriate ITR form, such as ITR-3 or ITR-4.

How can IndiaFilings assist me with filing my ITR-2?

IndiaFilings offers expert guidance and services to help you accurately complete and file your ITR-2, ensuring that you meet your tax compliance obligations with ease.

Do I need to visit an IndiaFilings office to get assistance with ITR-2 filing?

No, IndiaFilings provides online services, allowing you to get assistance with ITR-2 filing from the comfort of your home or office.

What are the benefits of using IndiaFilings’ ITR-2 Filing Services?

IndiaFilings’ services offer convenience, accuracy, and timely filing of your ITR-2. Our experts handle the complexities, allowing you to focus on other priorities.

Can IndiaFilings assist with complex ITR-2 cases involving multiple income sources?

Yes, IndiaFilings’ team of experts is equipped to handle complex ITR-2 cases that involve various income sources, ensuring accurate and compliant filings.

Is it mandatory to e-verify my ITR-2 after filing online?

While e-verification is not mandatory, it is recommended for faster processing and to avoid sending a physical copy of the ITR-V to the income tax department.

What should I do if I receive a notice for non-filing of ITR-2?

You should respond promptly and either file your ITR-2 or provide the necessary information to the tax authorities.

What types of deductions are available in ITR-2?

ITR-2 allows deductions under various sections, including 80C, 80D, 80G, and others, for investments, insurance, and charitable contributions.

Do I need to mention exempt income in ITR-2?

Yes, you should report all exempt income in the appropriate sections of ITR-2.

Can I revise my ITR-2 after filing it?

Yes, you can revise your ITR-2 within a specified time frame if you discover any errors or omissions.

Previous Chapter Next