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ITR-2

 

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ITR-2 Form

The income-tax department has categorized taxpayers on the idea of income, source of income and lots of other factors to make sure easy compliance.

Taxpayers having incomes from different categories, thus, need to download and fill different tax Return forms.

For instance, the ITR-2 Form is for people and HUFs not carrying any profession or business. during this article, we cover the subsequent .

Who is eligible to file ITR 2 for AY 2020-21?

ITR Form 2 is for people and HUF receiving income aside from income from “Profits and Gains from Business or Profession”. Thus persons having income from the subsequent sources are eligible to file Form ITR 2:

A Director of any company and a private who is invested in unlisted equity shares of a corporation are going to be required to file their returns in ITR-2.

Who cannot file ITR 2 for AY 2021-22?

What is the Structure of ITR 2?

ITR-2 is split into:

Part A: General Information

Part B-TI: Computation of Total Income

Part B-TTI: Computation of liabilities on total income

Tax payments- Details of payment of advance tax and self-assessment tax
Details to be filled if the return has been prepared by a income tax return Preparer

How to file ITR 2 Form ?

You can submit your ITR-2 Form either online or offline.

Offline:

Only the subsequent persons can file their ITR offline:

Return are often filed offline by:

The tax Department will issue you an acknowledgement at the time of submission of your physical paper return.

Online/Electronically:

If you submit your ITR-2 Form electronically under digital signature, the acknowledgment is going to be sent to your registered email id.

You can also prefer to download it manually from the tax website. you’re then required to sign it and send it to the Tax Department’s CPC office in Bangalore within 120 days of e-filing.

Remember that ITR-2 is an annexure-less form i.e. you are doing not need to attach any documents once you send it.

Click here to download Form ITR 2 for AY 2021-22

Major changes introduced in ITR 2 for AY 2021-22

Major changes introduced in ITR 2 for AY 2020-21

Major changes introduced in ITR 2 for AY 2019-20

Bifurcation of donation qualifying for deduction under section 80G into cash and other mode.