ITR-2 Filing

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ITR-2 Filing

ITR-2 Filing

ITR 2 Form is an important form income tax return form that is used by the Indian Citizens as well as the NRIs to file the return with the Income-tax department of India. The taxpayers who are not eligible to file ITR 1 can file ITR 1 to file the income tax returns. ITR 2 can be filed by the individuals and Hindu Undivided Families who have their income for the financial year through salary, pension, more than one property, income from capital gains, income from foreign assets, business or income from a profession as a partner and other sources that include lottery, Racehorses, legal gambling.

Also, an individual who is not eligible to file using ITR 1 as the income is exceeding Rs.50 Lakh can file ITR 2 Form.

Documents required filing ITR 2 :

Copy of the previous year’s tax return

Bank Statement

TDS Certificate

Savings Certificate/ Deductions

Interest Statement that shows the interest that is paid throughout the year.

Balance sheet, P & I, Account Statement, and other Audit reports wherever they are applicable.

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