How to File ITR-2 Online on Income Tax Portal
Summary:
The article provides a detailed guide on who can use ITR-2 for income tax filing and how to file it online via the income tax department’s e-filing portal. ITR-2 is meant for individuals whose income exceeds Rs 50 lakh, includes multiple house properties, or consists of capital gains. It is not applicable for those with business or professional income.
Steps to e-file ITR-2:
- Login: Go to the e-filing portal and log in with PAN/Aadhaar and password.
- Navigate: Go to E-File > Income Tax Returns > File Income Tax Return.
- Select Assessment Year: Choose 2024-25 and the mode of filing (online or offline).
- Select Status: Choose ‘Individual.’
- Select Form: From the dropdown, select ‘ITR-2.’
- Reason for Filing: Select the reason for filing the return.
- Select Schedules: Choose applicable schedules based on income sources.
- General Information: Verify and fill in pre-filled information; opt for old or new tax regime.
- Report Salary Income: Provide details from Form 16 and Form 12BA, including salary components and exemptions.
- Report Capital Gains: Specify details of sold capital assets, both long-term and short-term gains, and losses.
- Report Other Sources: Include income from interest, lotteries, and other sources.
- Claim Deductions: Provide details of eligible tax-saving investments and contributions to political parties.
After filling in all required details, preview the return and proceed to submit. Verify the ITR within 30 days of submission to ensure it is successfully filed.
