Get the free itr-2 indian income tax return - Income Tax Department

FORM Assessment Year INDIAN INCOME TAX RETURN For Individuals and Huts not having Income from Business or Profession ITR2 2 0 1 5 16 (Please see Rule 12 of the Income tax Rules,1962) (Also see attached

How to fill out itr-2 indian income tax

How to fill out itr-2 indian income tax:

1. Retrieve the itr-2 form: Download a copy of the itr-2 form from the official website of the Indian Income Tax Department or obtain a hard copy from an income tax office.
2. Gather necessary documents: Collect all the relevant documents such as Form-16, Form-16A, bank statements, investment proofs, and any other supporting documents required to accurately fill out the form.
3. Personal Information: Begin by providing your personal details such as name, address, PAN number, and contact information.
4. Income Details: Declare your income from various sources including salary, house property, capital gains, and other income. Provide accurate and detailed information for each source.
5. Deductions: Report eligible deductions under various sections such as Section 10, 80C, 80D, and other applicable sections. These deductions can help to reduce your taxable income.
6. Taxable Income: Calculate your total taxable income by subtracting the deductions from your total income.
7. Taxes Paid: Provide details of taxes already paid such as TDS (Tax Deducted at Source), advance tax, or self-assessment tax. Ensure that the details align with the documents such as Form-16.
8. Tax Liability and Refund: Calculate your tax liability or refund based on the income and deductions declared. Pay any remaining tax if applicable or claim a refund if excess tax has been paid.
9. Verification: Sign and date the form in the designated space to verify the accuracy of the information provided.

Who needs itr-2 indian income tax?

1. Individuals with income from salary or pension.
2. Individuals with income from more than one house property.
3. Individuals with capital gains from the sale of assets such as property, stocks, or mutual funds.
4. Individuals who have earned income from sources outside of India.
5. Individuals who are entitled to claim double tax relief under applicable tax treaties.
6. Individuals who have invested in shares or securities of unlisted companies.
7. Individuals who are required to carry forward losses under different heads of income.
8. Individuals who are partners in a partnership firm and have income from the firm.
9. Individuals who are claiming tax relief under Section 90 or Section 90A.
10. Individuals who are foreign residents and have income from India.

It is important to note that the above list may not be exhaustive, and it is recommended to consult with a tax professional or refer to the official guidelines to determine whether you need to file itr-2 or any other income tax form.

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What is itr-2 indian income tax?

ITR-2 is the income tax return form used by individuals and Hindu Undivided Families (HUFs) who have income from more than one house property and income from capital gains.

Who is required to file itr-2 indian income tax?

Individuals and Hindu Undivided Families (HUFs) who have income from more than one house property and income from capital gains are required to file ITR-2.

How to fill out itr-2 indian income tax?

ITR-2 can be filled out online on the Income Tax Department's e-filing portal or offline by downloading the form and submitting it physically.

What is the purpose of itr-2 indian income tax?

The purpose of ITR-2 is to report income from more than one house property and income from capital gains to the Income Tax Department.

What information must be reported on itr-2 indian income tax?

Income from more than one house property, income from capital gains, details of foreign assets and income, details of agricultural income, and any other income not reported on ITR-1 must be reported on ITR-2.