ITR-2_INDIVIDUAL OR HUFs

ITR-2 Form Filing – Income Tax Return

This is a form for Indians and Non Resident Indians to file their Income Tax Return (ITR). Individuals who are not eligible to use ITR-1 can file their returns using this ITR-2 Form.

Who Can Use ITR-2 Form ?

ITR-2 must be filed by individuals and HUFs who are not eligible to file ITR-1 Sahaj form, because of following reasons:
  • Income exceeding Rs. 50 Lakhs
  • Having foreign assets / income
  • Having agricultural income which is more than Rs. 5,000,
  • Having taxable capital gains
  • Having income from business or profession as a partner
  • Having more than one house property

Who Should Not Use ITR-2 Form ?

ITR-2 form should not be filed by any individual who has income under the head of Business or Profession from a proprietorship. ITR-2 form can also not be filed by a company or LLP or other types of legal entity.