What is the ITR 2 Form?
The ITR-2 is filed by the individuals or HUFs not having income from profit or gains of business or profession and to whom ITR-1 is not applicable. It includes income from capital gains, foreign income, or any agricultural income more than Rs 5,000.
Latest Update in Form ITR 2
- The ITR-2 Excel-based utility and JSON schema are now available in the e-filing portal for both HUFs and individuals. Download now
- A correction is released by CBDT about ITR Forms 2, 3, and 5 regarding the inclusion of disclosures for sections 80DD, 80U, and 54D. Read PDF
- ITR-2 Excel utility and JSON Schema are now available on the official portal. Download Now.
- What is ITR 2 Form
- Eligibility File ITR 2 Online AY 2020-21
- File ITR 2 Via Gen IT Software
- ITR 2 Due Date for AY 2024-25
- Structure of ITR 2 Filing
- ITR 2 Form Filing Online and Offline Mode
Eligible Taxpayers for Filing ITR 2 Online AY 2024-25
The taxpayers who are eligible for filing the ITR-2 form are the persons whose source of income is as mentioned below:
- A resident having any asset located outside India or signing authority in any account.
- A non-resident or not-ordinary resident.
- Taxpayers who earn agriculture income above Rs. 5000/-.
- Income from winnings of a lottery, horse race, gambling, etc. under the head of other sources.
- Both short and long-term capital gains/losses from the sale of property/investments/securities. (if there is only long term capital gain exempt u/s 10(38) then ITR-1 can be filed)
The taxpayers who do not require to file the ITR-2 form are as follows:
- Taxpayers who earn from business or profession
- Taxpayers who are eligible for Income Tax Return 1 filing.
File ITR 2 Via Gen IT Software, Get Demo!
Due Date for Filing ITR 2 Online FY 2023-24
- FY 2023-24 (AY 2024-25) – 31st July 2024
- FY 2022-23 (AY 2023-24) – 31st July 2023
- FY 2021-22 (AY 2022-23) – 31st July 2022
- Every year on or before 31st July is termed as the last date for filing ITR 2 (Non-audit cases).
Structure of ITR 2 Filing for AY 2024-25 Online
Part A: General Information
The general information is enclosed with the following details of the taxpayer to furnish with:
- Name
- PAN number
- Status: Individual or HUF
- Flat/Door/Block No
- Name of Premises/Building/Village
- Road/Street/Post Office
- Area/Locality
- Aadhar number
- Town/City
- State
- Country
- PIN Code/ZIP Code
- Residential/Office Phone Number with STD code/ Mobile No. 1
- Mobile No. 2
- Email Address 1 (Self)
- Email Address 2
Filing Status
- A20 – Filed u/s
- (a1i) Filed u/s (Tick) [Please see instruction]
- 139(1)-On or Before Due Date
- 139(4)-After Due Date
- 139(5)-Revised Return
- 92CD-Modified Return
- 119(2)(b)-After Condonation of Delay
- (a1ii) Or filed in response to notice u/s
- 139(9)
- 142(1)
- 148
- 153C
- (a1i) Filed u/s (Tick) [Please see instruction]
(a2) Do you wish to exercise the option u/s 115BAC(6) of Opting out of new tax regime ? (default is “No”)
Note: For Opting out, option should be exercised along with the return of income filed u/s 139(1)
B – Are you filing a return of income under the Seventh proviso to section 139(1) but otherwise not required to furnish a return of income? Yes or No
If yes, please furnish following information [Note: To be filled only if a person is not required to furnish a return of income under section 139(1) but filing return of income due to fulfilling one or more conditions mentioned in the seventh proviso to section 139(1)]
- B.i- Have you deposited an amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current accounts during the previous year? (Yes/No)
- B.ii- Have you incurred expenditure of an amount or aggregate of the amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or for any other person? (Yes/No)
- B.iii- Have you incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on the consumption of electricity during the previous year? (Yes/No)
- B.iv- Are you required to file a return as per other conditions prescribed under clause (iv) of the seventh proviso to section 139(1) (If yes, please select the relevant condition from the drop-down menu? (Yes/No)
C – If Revised/Defective/Modified, then enter Receipt No. and Date of filing original return (DD/MM/YYYY)
D – If filed, in response to a notice u/s 139(9)/142(1)/148/153A/153C or order u/s 119(2)(b) enter Unique Number/ Document Identification Number (DIN) and date of such Notice/Order, or if filed u/s 92CD, enter the date of Advance Pricing Agreement
E – Residential Status in India (for individuals)
- Resident
- Resident but not Ordinarily Resident
- Non-resident
(II) Residential Status in India (for HUF)
- Resident
- Resident but not Ordinarily Resident
- Non-resident
F – Do you want to claim the benefit under section 115H? (Yes/No)
G- Are you governed by Portuguese Civil Code as per section 5A?
H- Whether you are an FII / FPI? Yes/No (If yes, please provide SEBI Regn. No)
I- Legal Entity Identifier (LEI) details (mandatory if refund is 50 Crores or more)
- LEI Number
- Valid upto date
J – Whether this return is being filed by a Representative Assesse?
- Name of the representative
- Capacity of the Representative (drop down to be provided)
- Address of the Representative
- Permanent Account Number (PAN) of the representative
K – Whether you were Director in a company at any time during the previous year? (Tick) þ o Yes o No If yes, please furnish following information
- Name of Company
- Type of Company
- PAN
- Whether its shares are listed or unlisted
- Director Identification Number (DIN)
L – Whether you have held unlisted equity shares at any time during the previous year?
Schedule S: Details of Income from Salary
The information regarding Details of Income from Salary is enclosed with the following details of the taxpayer to furnish with:
- Name of Employer
- Nature of Employer
- TAN of Employer
- Address of employer
- Town/City, State, PIN Code
- Gross Salary ((1a + 1b + 1c + 1d + 1e + 1f)
- Total Gross Salary
- Less allowances to the extent exempt u/s 10 (drop down to be provided in e-filing utility) (please refer instructions) (Note: Ensure that it is included in Total Gross salary in (2) above )
- Less: Income claimed for relief from taxation u/s 89A
- Net Salary (2 – 3 – 3a)
- Deduction u/s 16 (5a + 5b + 5c)
- Income chargeable under the head ‘Salaries’ (4 – 5)
Schedule HP: Details of Income from House Property
The information regarding Details of Income from House Property is enclosed with the following details of the taxpayer to furnish with:
- Address of property 1
- Town/ City
- State
- PIN Code/ ZIP Code
- Is the property co-owned? (Yes/No)
- Your percentage of share in the property (%)
- Name of Co-owner(s)
- PAN/Aadhaar No. of Co-owner(s)
- Percentage Share in Property
- [Tick the applicable option]
- Let out
- Self-occupied
- Deemed let out
- Name(s) of Tenant(s) (if let out)
- PAN/ Aadhaar No. of Tenant(s)
- PAN/TAN/ Aadhaar No. of Tenant(s) (if TDS credit is claimed)
- a – Gross rent received or receivable or letable value
- b – The amount of rent which cannot be realized
- c – Tax paid to local authorities
- d – Total (1b + 1c)
- e – Annual value (1a – 1d)
- f – Annual value of the property owned (own percentage share x 1e)
- g – 30% of 1f
- h – Interest payable on borrowed capital
- i – Total (1g + 1h)
- j – Arrears/Unrealised rent received during the year less 30%
- k – Income from house property 1 (1f – 1i + 1j)
- Pass through income/loss if any *
- Income under the head “Income from House Property” (1k + 2)
Note:
- Please include the income of the specified persons referred to in Schedule SPI and Pass through income referred to in schedul e PTI while computing the income under this head
- Furnishing of PAN/ Aadhaar No. of tenant is mandatory, if tax is deducted under section 194 -IB
- Furnishing of TAN of tenant is mandatory, if tax is deducted under section 194 -I
Schedule CG: Capital Gains
The information regarding Capital gains is enclosed with the following details of the taxpayer to furnish with:
A. Short-term Capital Gains (STCG)
1. From the sale of land or building or both
- a
- I Full value of the consideration received/receivable
- II Value of property as per stamp valuation authority
- III Full value of consideration adopted as per section 50C for the purpose of Capital Gains [in case (aii) does not exceed 1.10 times (ai), take this figure as (ai), or else take (aii)]
- b – Deductions under section 48
- I Cost of acquisition without indexation
- II Cost of Improvement without indexation
- III Expenditure wholly and exclusively in connection with transfer
- IV Total (bi + bii + biii)
- c – Balance (a-iii – b-iv)
- d – Deduction under section 54B (Specify details in item D below)
- e – Short-term Capital Gains on Immovable property (1c – 1d)
- f – In case of transfer of immovable property, please furnish the following details (see note)
Note: Furnishing of PAN/ Aadhaar No. is mandatory, if the tax is deducted under section 194-IA or is quoted by buyer in the documents In case of more than one buyer, please indicate the respective percentage share and amount.
2. From the sale of equity share or unit of an equity-oriented Mutual Fund (MF) or unit of a business trust on which STT is paid under section 111A or 115AD(1)(ii) proviso (for FII)
3. For NON-RESIDENT not being an FII- from sale of shares or debentures of an Indian company (to be computed with foreign exchange adjustment under first proviso to section 48)
- STCG on transactions on which securities transaction tax (STT) is paid
- STCG on transactions on which securities transaction tax (STT) is not paid
4. For NON-RESIDENT- from the sale of securities (other than those at A2) by an FII as per section 115AD
5. From the sale of assets other than at A1 or A2 or A3 or A4 above
6. Amount deemed to be short-term capital gains
7. Pass Through Income/ Loss in the nature of Short Term Capital Gain, (Fill up schedule PTI) (A7a + A7b + A7c)
8. Amount of STCG included in A1 – A7 but not chargeable to tax or chargeable at special rates in India as per DTAA
- a Total amount of STCG not chargeable to tax in India as per DTAA
- b Total amount of STCG chargeable to tax at special rates in India as per DTAA
9. Total Short-term Capital Gain (A1e+ A2e+ A3a+ A3b+ A4e+ A5e+A6 + A7 – A8a)
B. Long-term capital gain (LTCG) (Sub-items, 5, 6, 7 & 8 are not applicable for residents)
- From the sale of land or building or both
- From the sale of bonds or debentures
- From the sale of listed securities or zero-coupon bonds where proviso u/s 112 is applicable or from the sale of GDR referred to in section 115ACA
- From the sale of equity share in a company or unit of equity oriented fund or unit of a business trust on which STT is paid under section 112A
- For NON-RESIDENTS- from the sale of shares or debenture of an Indian company (to be computed with foreign exchange adjustment under first proviso to section 48)
- For NON-RESIDENTS- from sale of, (i) unlisted securities as per sec. 112(1)(c), (ii) bonds or GDR as referred in sec. 115AC, (iii) securities by FII as referred to in sec. 115AD (other than securities referred to in section 112A for which column B7 is to be filled up)
- For NON-RESIDENTS – From the sale of equity share in a company or unit of equity-oriented fund or unit of a business trust on which STT is paid under section 112A
- From the sale of foreign exchange assets by NRI
- From the sale of assets where B1 to B8 above are not applicable
- The amount deemed to be long-term capital gains
- Pass Through Income/ Loss in the nature of Long-Term Capital Gain, (Fill up schedule PTI) (B11a1+ B11a2 + B11b)
- Amount of LTCG included in B1- B11 but claimed as not chargeable to tax or chargeable at special rates in India as per DTAA
- a. Total amount of LTCG not chargeable to tax as per DTAA
- b Total amount of LTCG chargeable to tax at special rates as per DTAA
- Total long-term capital gain chargeable under I.T. Act (B1e+B2e+B3e+B4c+B5c+B6e+B7c+B8c+B8f+B9e+B10 + B11 – B12a)
C1. Sum of Capital Gains (9ii + 9iii + 9iv + 9v + 9vi + 9vii + 9viii of table E below)
C2. Income from transfer of virtual digital assets (Col. 7 of Schedule VDA)
C3. Income chargeable under the head “CAPITAL GAINS” (C1 + C2)
D. Information about deduction claimed against Capital Gains
E. Set-off of current year capital losses with current year capital gains (excluding amounts included in A8a & B12a which is not chargeable under DTAA)
F. Information about accrual/receipt of capital gain
Schedule 112A:
From the sale of equity shares in a company or unit of an equity-oriented fund or unit of a business trust on which STT is paid under section 112A.
115AD(1)(b)(iii) proviso
For NON-RESIDENTS – From sale of equity share in a company or unit of equity-oriented fund or unit of a business trust on which STT is paid under section 112A.
Schedule VDA: Income from transfer of virtual digital assets
- Sl. No
- Date of Acquisition
- Date of Transfer
- Head under which income to be taxed (Capital Gain)
- Cost of Acquisition (In case of gift;)
- a. Enter the amount on which tax is paid u/s 56(2)(x) if any
- b. In any other case cost to the previous owner
- Consideration Received
- Income from transfer of Virtual Digital Assets (enter nil in case of loss) (Col. 6 – Col. 5)
Schedule OS:
- Income from other sources: The information regarding income from other sources is enclosed:
- Gross income chargeable to tax at normal applicable rates (1a+ 1b+ 1c+ 1d + 1e)
- Income chargeable at special rates (2a+ 2b+ 2c+ 2d + 2e +2f elements related to Sl. No.1)
- Deductions under section 57
- Amounts not deductible u/s 58
- Profits chargeable to tax u/s 59
- Income claimed for relief from taxation u/s 89A
- Net Income from other sources chargeable at normal applicable rates (1(after reducing income related to 6 DTAA portion) – 3 + 4 + 5-5a )
- Income from other sources (other than from owning race horses)
- Income from the activity of owning and maintaining race horses
- Income under the head “Income from other sources” (7 + 8e)
- Information about accrual/receipt of income from Other Sources
Schedule CYLA:
Details of Income after Set off of Current Year Losses
- Head/ Source of Income
- Income of the current year
- House property loss of the current year set off
- Net loss from Other sources chargeable at normal applicable rates (other than loss from race horses) of the current year set off
- Current year’s Income remaining after set off
Schedule BFLA:
Details under this heading are enclosed with the following details of the taxpayer to furnish with:
- Head/ Source of Income
- Income after set off, if any, of current year’s losses as per 4 of Schedule CYLA)
- Brought forward loss set off
- Current year’s income remaining after set off
Schedule CFL:
Details under this heading are enclosed with the following details of the taxpayer to furnish with:
- Assessment Year
- Date of Filing
- House property loss
- Short-term capital loss
- Long-term Capital loss
- Loss from owning and maintaining race horses
Schedule VI-A: Deductions under Chapter VI-A
Details under this title are enclosed with the following details of the taxpayer to furnish with:
1. Part B- Deduction in respect of certain payments
2. Part C, CA and D- Deduction in respect of certain incomes/other deduction
Schedule 80G: Details of donations entitled for deduction under section 80G
- Donations entitled for 100% deduction without qualifying limit
- Donations entitled for 50% deduction without qualifying limit
- Donations entitled for 100% deduction subject to qualifying limit
- Donations entitled for 50% deduction subject to qualifying limit
- Total donations
Schedule 80GGA: Details of donations for scientific research or rural development
- Relevant clause under which deduction is claimed
- Claimed Name and address of donee
- PAN of Donee
- Amount of donation
- Eligible Amount of donation
Schedule 80GGC: Details of contributions made to political parties.
Schedule 80DD: Details of deduction in respect of maintenance including medical treatment of a dependent who is a person with disability.
Schedule AMT: Computation of Alternate Minimum Tax payable under section 115JC
- Total Income as per item 12 of PART-B-TI
- Adjustment as per section 115JC(2)
- Adjusted Total Income under section 115JC(1) (1+2a)
- Tax payable under section 115JC [18.5% of (3)] (if 3 is greater than Rs. 20 lakhs)
Schedule AMTC: Computation of tax credit under section 115JD
- The tax under section 115JC in the assessment year 2024-25 (1d of Part-B-TTI)
- The tax under other provisions of the Act in the assessment year 2024-25 (7 of Part-B-TTI)
- Amount of tax against which credit is available [enter (2 – 1) if 2 is greater than 1, otherwise enter 0]
- The utilisation of AMT credit Available
- Amount of tax credit under section 115JD utilised during the year [total of item No. 4 (C)]
- Amount of AMT liability available for credit in subsequent assessment years [total of 4 (D)]
Schedule SI: Income chargeable to tax at special rates
1 111- Accumulated balance of recognised provident for prior years
2 111A or section 115AD(1)(b)(ii)- Proviso (STCG on shares units on which STT paid)
3 115AD (STCG for FIIs on securities where STT not paid)
4 112 proviso (LTCG on listed securities/ units without indexation)
5 112(1)(c)(iii) (LTCG for non-resident on unlisted securities)
6 115AC (LTCG for non-resident on bonds/GDR)
7 115ACA (LTCG for an employee of specified company on GDR)
8 115AD (LTCG for FIIs on securities)
9 115E (LTCG for non-resident Indian on specified asset)
10 112 (LTCG on others)
11 112A or section 115AD(1)(b)(iii)-Proviso (LTCG on sale of shares or units on which STT is paid) 10 (part of 3vi of schedule BFLA)
12 STCG Chargeable at special rates in India as per DTAA
13 LTCG Chargeable at special rates in India as per DTAA
14 115BB (Winnings from lotteries, puzzles, races, games etc.)
15 115BBE (Income under section 68, 69, 69A, 69B, 69C or 69D)
16 115BBF (Tax on income from patent)
17 115BBG (Tax on income from transfer of carbon credits)
18 Any other income chargeable at special rate (Drop down to be provided in efiling utility)
19 Other source of income chargeable at special rates in India as per DTAA
20 Pass Through Income in the nature of Short Term Capital Gain chargeable @ 15%
21 Pass Through Income in the nature of Short Term Capital Gain chargeable @ 30%
22 Pass Through Income in the nature of Long Term Capital Gain chargeable @ 10% u/s 112A
23 Pass Through Income in the nature of Long Term Capital Gain chargeable @ 10%- under sections other than u/s 112A
24 Pass Through Income in the nature of Long Term Capital Gain chargeable @ 20%
25 Pass through income in the nature of income from other source chargeable at special rates (Drop down to be provided in e-filing utility)
Schedule SPI:
Income of specified persons (spouse, minor child, etc.) includable in the income of the assessee as per section 64
- Name of person
- PAN of person (optional)
- Relationship
- Amount
- Head of Income in which included
Schedule EI: Details of Exempt Income (Income not to be included in Total Income or not chargeable to tax)
- 1 Interest income
- 2
- I Gross Agricultural receipts (other than income to be excluded under rule 7A, 7B or 8 of I.T. Rules)
- II Expenditure incurred on agriculture ii
- III Unabsorbed agricultural loss of previous eight assessment years iii
- IV Net Agricultural income for the year (i – ii – iii) (enter nil if loss) 3
- V In case the net agricultural income for the year exceeds Rs.5 lakh, please furnish the following details (Fill up details separately for each agricultural land)
- a Name of the district along with pin code in which agricultural land is located
- b Measurement of agricultural land in Acre
- c Whether the agricultural land is owned or held on lease (drop down to be provided)
- d Whether the agricultural land is irrigated or rain-fed (drop down to be provided)
- 3 Other exempt income (including exempt income of minor child)
- 4 Income not chargeable to tax as per DTAA
- Sl. No. Amount of income
- Nature of income
- Country name & Code
- Article of DTAA
- Head of Income
- Whether TRC obtained
- (Y/N) I, II, III Total Income from DTAA not chargeable to tax
- 5 Pass through income not chargeable to tax (Schedule PTI)
- 6 Total (1+2+3+4+5+6)
Schedule PTI: Pass-Through Income details from the business trust or investment fund as per section 115UA, 115UB
- Investment entity covered by section 115UA/115UB
- Name of business trust/ investment fund
- PAN of the business trust/ investment fund
- SI.
- Current Year Income
- Share of current year loss distributed by Investment fund
- Net Income/Loss (7-8)
- TDS on such amount, if any
Schedule FSI: Details of Income from outside India and tax relief
- Country Code
- Taxpayer Identification Number
- Head of income
- Income from outside India (included in PART B-TI)
- Tax paid outside India
- Tax payable on such income under normal provisions in India
- Tax relief available in India (e)= (c) or (d) whichever is lower
- Relevant article of DTAA if relief claimed u/s 90 or 90A
Schedule TR: Summary of tax relief claimed for taxes paid outside India
- 1 Summary of Tax relief claimed
- 2 Total Tax relief available in respect of country where DTAA is applicable (section 90/90A)
- 3 Total Tax relief available in respect of country where DTAA is not applicable (section 91)
- 4 Whether any tax paid outside India, on which tax relief was allowed in India, has been refunded/credited by the foreign tax authority during the year?
Schedule FA: Details of Foreign Assets and Income from any source outside India
- A1 Details of Foreign Depository Accounts held (including any beneficial interest) at any time during the calendar year ending as on 31st December 2023
- A2 Details of Foreign Custodial Accounts held (including any beneficial interest) at any time during the calendar year ending as on 31st December 2023
- A3 Details of Foreign Equity and Debt Interest held (including any beneficial interest) in any entity at any time during the calendar year ending as on 31st December 2023
- A4 Details of Foreign Cash Value Insurance Contract or Annuity Contract held (including any beneficial interest) at any time during the calendar year ending as on 31st December 2023
- B Details of Financial Interest in any Entity held (including any beneficial interest) at any time during the calendar year ending as on 31st December 2023
- C Details of Immovable Property held (including any beneficial interest) at any time during the calendar year ending as on 31st December, 2023
- D Details of any other Capital Asset held (including any beneficial interest) at any time during the calendar year ending as on 31st December, 2023
- E Details of account(s) in which you have signing authority held (including any beneficial interest) at any time during the calendar year ending as on 31st December, 2023 and which has not been included in A to D above
- F Details of trusts, created under the laws of a country outside India, in which you are a trustee, beneficiary or settlor
- G Details of any other income derived from any source outside India which is not included in (i) items A to F above and, (ii) income under the head business or profession
Note: Please refer to instructions for filling out this schedule. In case of an individual, not being an Indian citizen, who is in India on a business, employment or student visa, an asset acquired during any previous year in which he was non-resident is not mandatory to be reported in this schedule if no income is derived from that asset during the current previous year.
Schedule 5A: Information regarding apportionment of income between spouses governed by Portuguese Civil Code
- Name of the spouse
- PAN of the spouse
- Heads of Income
- Income received under the head
- Amount apportioned in the hands of the spouse
- Amount of TDS deducted on income at (ii)
- TDS apportioned in the hands of the spouse
Schedule AL:Assets and Liabilities at the end of the year (applicable in a case where the total income exceeds Rs.50 lakh)
- A Details of immovable assets
- B Details of movable assets
- C Liabilities in relation to Assets at (A + B)
Schedule Tax-deferred on ESOP: Information related to Tax deferred – relatable to income on perquisites referred in section 17(2)(vi) received from
employer, being an eligible start-up referred to in section 80-IAC
Part B-TI: Computation of Total Income
The information regarding total income is enclosed with the following details of the taxpayer to furnish with:
- Salaries
- Income from house property
- Capital gains
- Income from other sources
- Total of head wise income (1+2+3c+4d)
- Losses of current year set off against 5
- Balance after set off current year losses (5-6)
- Brought forward losses set off against 7
- Gross Total income (7-8)
- Income chargeable to tax at special rate under section 111A, 112, 112A etc. included in 9
- Deductions under Chapter VI-A
- Total income (9-11)
- Income which is included in 12 and chargeable to tax at special rates
- Net agricultural income/ any other income for rate purpose
- Aggregate income (12-13+14)
- Losses of the current year to be carried forward
- Deemed income under section 115JC
Part B-TTI: Computation of tax liability on total income
The information regarding the Computation of tax liability on total income is enclosed with the following details of the taxpayer to furnish with:
- Tax payable on deemed total income u/s 115JC
- Tax payable on total income
- Rebate under section 87A
- Tax payable after rebate (2d-3)
- Surcharge
- Health and Education Cess @ 4% on (4 + 5iv)
- Gross tax liability (4 + 5iv + 6)
- Gross tax payable (higher of 1d and 7)
- a) Tax on income without including income on perquisites referred in section 17(2)(vi) received from employer, being an eligible start-up referred to in section 80-IAC ( Schedule Salary)
- b) Tax deferred – relatable to income on perquisites referred in section 17(2)(vi) received from employer, being an eligible start-up referred to in section 80-IAC
- c) Tax deferred from earlier years but payable during current AY (total of col 7 of schedule Tax deferred on ESOP
- Credit u/s 115JD of tax paid in earlier years
- Tax payable after credit u/s 115JD (8a +8c – 9)
- Tax relief
- Net tax liability (10 – 11d)
- Interest and fee payable
- Aggregate liability (12 + 13e)
- Taxes Paid
- Amount payable (Enter if 14is greater than 15e, else enter 0)
- Refund
- Details of all Bank Accounts held in India at any time during the previous year
- Do you at any time during the previous year
- (i) hold, as beneficial owner, beneficiary or otherwise, any asset (including financial interest in any entity) located outside India; or
- (ii) have signing authority in any account located outside India; or
- (iii) have income from any source outside India?
20 Tax Payments
Verification: There will be verification at the end of all the General, Part B TI and Part B TTI ensuring that the details given are factually correct and self-attested by the taxpayer.
If the return has been prepared by a Tax Return Preparer (TRP) give further details below:
- Identification No. of TRP
- Name of TRP
- Counter Signature of TRP
If TRP is entitled for any reimbursement from the Government, amount thereof 21
A Details of payments of Advance Tax and Self-Assessment Tax
B Details of Tax Deducted at Source from Salary [As per Form 16 issued by Employer(s)]
Income Tax Return 2 Form Filing Mode
An ITR-2 form can be furnished either in online or offline mode. In online mode, either XML needs to be uploaded or client can directly login to income tax portal and select the submission mode as “prepare and submit online”. In the case of online filing, some data can be imported from the latest ITR or form 26AS. Super senior citizens (Age of 80 years or more) are exempted from the online filing of ITR. Offline here means to furnish the return form in paper format.
Online:
- While furnishing ITR-2 online, feed the details and e-verify return using EVC via Bank Account/Net Banking/Demat Account/Aadhar OTP or
- 2. Feed the details using electronic medium and send a physical copy of ITR V to Centralized Processing Centre (CPC), Bengaluru through speed post or normal post. When you furnish the ITR-2 return form using electronic medium, the receipt will be seen in the inbox of the registered email id. It can also be downloaded from the official income tax website manually. After downloading the acknowledgement, you need to sign the form and then send CPC office, Bangalore before completing 120 days counting from the e-filing date. On the other side, it is not required to send the ITR V to the CPC if EVC/OTP option is used
Offline:
- If the age of the person is 80 or more years during the respective tax period or in the previous year, he/she can opt for offline return filing.
ITR 2 Online User Manual Guide
Thanks for that Guide.
I’m a foreign national on a long term student visa. I’m filing online ITR2 Return with Residential Status “Resident but not Ordinarily resident”.
I do have a bank account abroad but no income derived from it since it does not give any interest on the small savings amount I have there.
Do I have to fill out Schedule FA section? I cannot find it there.
Please let me know what do I have to do? Thanks.
In case of Resident but not Ordinarily resident fill following detail in FA schedule.
1. whether you were director in a company at any time during the previous year?
2. Whether you were partner in a firm?
3. Whether you have held unlisted equity share at any time during the previous year?
Thanks for your response.
But as I mentioned I cannot even find FA schedule in the online ITR2 Form.
Itr form 2 me
Schedule special income me to tax thereon zero show ho raha hai lekin tax dendari me rashi judkar show ho rahi hai in part B TI
कहां चूक रहा हूं थोड़ी हेल्प करो डियर
I am a pensioner and sold a property. TDS was deducted by the buyer and its reflecting in AIS also. I could not find a column where it should be manually reflected ITR 2, as it was not captured automatically. Can you please guide me through the selection of schedules and where to enter the amount manually.
Income from sale of property will come under the head of income from capital gain. Taxpayer can enter the detail under this head manually.
please enter the pan under col(10) at sr. no 1 in schedule tds2 itr 2 solution a.y. 2024-25
Not seeing the – 20 Tax Payments in the ITR-2 Excel utility-
we found the option to enter self-assessment paidment is captured in the IT (worksheet) – but it’s 17A – but Part-B TTI 15 d . Tax paid is expecting – self-assessment Tax column 5of 20 A .
Can you guide me
For NRI having only income from stcg/ltcg and savings bank interest which is just about 2.55lakh and ITR2 calculated the income tax as 37.5k as per STCG/LTCG flat rates. Is this even correct? how to fix this? I tried to fill rectified ITR2 also but no luck it still shows tax liability same. Why it doesnt give basic exemption of 2.5lac and calculate tax on 5k INR? plz advice.
Income of STCG/LTGG taxable flat rate, it not included in basic exemption limit. Deduction under 80TTA And 87A available for only resident not for NRI.
I am an NRI and I am filling ITR2, lastly one error comes as “In schedule SI, tax computed can not be null, if income is grater than zero.” how to clear the error.
This Error is related to income tax portal
Hello!
Filing a return for a retired private pensioner, while verification recd error – Caught Error Description as null, What does it mean..
Also, while generating JSON issues found-
File is not being saved in path specified by the text message.. I cant find my file so I converted Excel to JSON using online sites.
And, the verification summary shows only Schedule S – with 1 entry, other schedules like CG, OS, HP are not there in the summary in the utility.
Please help me out
Is it mandatory to fill TRP number and TRP name while e-filling ITR-2 form? I have not used any TRP and left the field blank. This is giving error in the verification stage that the ky “IdentificationNoofTRP” not found.
I have a question – in which schedule of ITR2 should we fill details pertaining to income from business trusts like REIT, InvIT, etc? should one split it as dividend, interest income, etc?
Under section 10 of ITR-2 wherein amount of gratuity and Commuted value of pension is inserted, The system says that amount in column 10 should not be more than 20 lacs while I have received 20 lacs as gratuity and 10 lacs as Commuted value of pension
I M ALSO FACING SAME PROBLEM ARE YOU ABLE TO SOLVE THE PROBLEM
In which schedule of itr2 tax paid amount to be shows.
Hi, I have a flat in Bangalore for which I am getting rent but paying rent in Hyderabad. Can we show the difference amount as rent (rent earned-rent paid) as my rental income or do I need to show both of them separately.
Is there any reference from cbdt to the pretty useful point, you have mentioned – “if there is only long term capital gain exempt u/s 10(38) then ITR-1 can be filed”.
I have been searching for this point as it applies to my case.
Yours is the ONLY ARTICLE to have mentioned.
Kindly confirm
Schedule 80D is not visible for me while filing return under ITR 2. How do I claim deduction for the same?
Same here
Same here
While filing ITR2 as a non resident, I am getting a warning that ” you have not filed FA” . As per my knowledge FA is to be filled by resident or not ordinary residents.
I got that warning in the final schedule (Review and Validation), but disregarded it and continued with NEXT. I got Validation confirmed. It is correct that FA is applicable to Residents holding Foreign Assets.
I bought a new car during FY 2000-21 for INR 5,80,000, would I get any income tax rebate? if yes then under which section. Plz, clarify.
In the new portal under which section you file STCG in ITR2. I dont see any relevant section.
Regards,
Ranjit
I want to fill ITR 2 offline with Prefilled (or blank) .json version. (Do not have Excel software) . I installed the Utility. When I try to down load offline ITR 2 form , it is asking me “secure message” and password. From where do I get this “secure message”
Dear Sir,
I have efiled ITR-2 online ( final submission yet to be made). I have shown STCG under Sec-111A Rs.191804/- and LTCG under 112A Rs.4990/-. Schedule Sal shows Rs.585314/- after adjusting Std. Dedn. and loss on Housing Property. Under Schedule other income Intt. income+Dividend comes to Rs.734186/-. As per my calculation Ta on STCG @ 15% = Rs.28711/-. Tax on LTCG is Zero as upto 1 lakh is tax free. After adjusting the deductions the toat lncome amount comes to Rs.1027157/- excluding the STCG. The tax as per my calculation on this comes to Rs.118147/- ( applicable to Sr. Citizen). Now the total tax comes to Rs.118147+28711(tax on STCG)=Rs.146858/-+5874( 4%cess)= Rs.152732. As I have paid excess, I should get refund of Rs.29863/-, But in schedule TI the Income Tax portal shows Rs.182595/-. I think the the STCG income has not been deducted from the total income while calculating tax liability. What I have to do? I have already raised grivances and telephoned the deptt. But to no use. No resolution has been provided to me. Sir, Would you please guide me in this regard, what course of action I should take?
Thanks and regards.
Lalmohan Patnaik
Hello Mr Mohan,
Under which section you fill STCG? I am unable to find any relevant section.
we are terribly annoyed with the new Income tax portal for the following reasons
1. we are unable to file/ upload ITR 2 for our HUF account with the main PAN for HUF account together with verification done with KARTA/ Representative assessee along with his personal PAN. The main E- filing portal for the AY 2021-22 was a total failure and the return was rejected for defects- viz., Representative / Karta pan no is different from HUF account PAN No. In spite of our many requests to the Income-tax department, we received a blank reply and the status remains non-functional of the new portal.
kindly look into the concern raised by us and see if you can suggest a suitable solution for the same
thanking you
S Ramachandran
where do you find the option to fill the STCG in ITR2 while filing the form online ?
kindly help me to upload my HUF ITR-2 in the latest incometax portal for 21-22. I am not able to register authorized representative. On loading I get the error as the representative pan is different from the main pan of the huf. Please let me knwo if the problem can be resolved
Thanks
Ramachandran
Dear Sir,
While submitting ITR 2, I am getting an Error message: In Schedule OS, Sl. No. 10 the quarterly break up of Dividend Income (i ii iii iv v) is not equal to [1a – DTAA Dividend -System calculated value at 3aii] of Schedule OS”
Also, another problem I am facing is that in Schedule TTI, clause 19: Do you at any time during the prev year….! I am selecting the checkbox ‘No’ but in summary, the checkbox get automatically change to “Yes”. Can you please help me with what could be the problem?
The ironic part is that the online utility indicates no error on validation. However, this error pops up while verification.
Interesting. I am facing the same problem. Though I have tried to correct the error in the Dividend section. Don’t understand why it refers to 3aii, which just relates to if you are trying any deduction/exemption of interest (on loan you might have taken to generate dividend income). The same goes with yr last part. Hope they rectify if there is an error.
I am also facing the same issue “While submitting ITR 2, I am getting an Error message: In Schedule OS, Sl. No. 10 the quarterly break up of Dividend Income (i ii iii iv v) is not equal to [1a – DTAA Dividend -System calculated value at 3aii] of Schedule OS” Couldn’t understand the actual issue, tried more than 5 hrs for this.
Could you fix the above issue? If yes, can you share the solution?
The same problem in Sch TTI Sr.19 I select NO but the preview shows YES despite my repeated editing efforts.
Also, Resident Individual YES also shows in Preview Resident HUF YES tick.
Taxpayers can’t verify when such FALSE information is automatically shown by the new utility. Therefore unable to verify and submit ITR.
On Twitter, the dept asks to email issues to orm@cpc.incometax.gov.in but nobody replies to the emails.
Anyone has a solution for the above glitches? Complete silence from FinMin and IT Dept. Stress and harassment to taxpayers who are ready and trying to file ITR for AY21-22. When will this portal become glitch-free?
Totally agree. I have filled my ITR, but unable to verify it yet since the month beginning. For me, apart from inputted fields going missing, in spite of entering multiple times, the issue I face is this.
First it says no validation errors, proceed to everification. And when I do that it says one error found and the error is schedule VIA. It says the total does not match with 2u. This particular schedule takes time to load, becomes unresponsive for a brief time etc. There is only one field where I hv inputted the figure (for 80 C). The total deduction is auto populated and the same amount is appearing in total. I dont know where the difference is as appearing in the message. Multiple grievance raised and no reply. Because the figures goes missing, each time I go through every schedule and proceed. Lots of time wasted and still not yet completed. Really frustrating.
Rather than splitting the Dividend income across the 4 quarter ( 5 boxes), enter entire amount in first box/qtr. There is a bug in the system, hence it is considering only first box.
It worked successfully for me on 31st July, 2022.
Hi Ashok, Were you able to fix this issue? I am really stuck up here.
RE : LTCG from sale of equity share etc.
The ITR 2 Form given in your blog In Sce CG B4 gives details of deduction of Rs 1,50.000. When I tried on line filing of ITR 2 I found that the Form given by the IT Dept is defective. Column B4 does not have any provision to show the above deduction. Whereas space for deduction under sec 54 F which are not relevant, have been given. I am wondering how to file this online.
I am getting validation error:
In Part, BTI Deemed income under section 115JC is not equal to Sl. No. 3 of Schedule AMT
2. Tax payable on deemed income u/s 115JC in PART B TTI is not equal to the tax ascertained at Schedule AMT
In PArt B TTI the srl no. 19 is getting auto-selected as yes., Whereas there are no accounts/ assets etc outside India
“Please contact to the department”
Ma’am, has this problem been resolved?
I am facing the exact issues.
1) Rounding of numbers is different in different schedules
Schedule 112A does the rounding of total LTCG one rupee below
Schedule CG does the rounding of total LTCF one rupee above
This one rupee difference is causing the entire return to fail in the end.
2) Some bank accounts are still not getting verified and there is no reason. If a bank account is not validated, the return cannot be filed. If we delete the bank account, then the return filed is not as per compliance laws
3) Accrual of Dividend per quarter is an issue
4) Accrual of LTCG per quarter is an issue due to rounding of income at various places
5) Unwanted schedules are getting added in the Online return
6) The foreign assets radio button is defaulting to Yes which is totally wrong
7) Atleast two times I found that the tax free LTCG below 1 lakh was not getting deducted from total taxable income.
Huge huge mountain size problems in Online ITR2. Problems were reported to ITD but no resolution coming. No excel utility being released. Maximum returns will be faulty this year.
Sir,
Now new income-tax portal has launched so please guide as per new portal also.
As you know older one is stopped working.
Thanks and regards
Resident, around 3L annual income, for AY2021-22, in ITR-1, where to book the income received via SWP of MF {₹ 22,000.} against which TDS of ₹ 1700 paid u/s 194K? Can this be included under “Income from other sources” where income from bank and other deposits are shown? With allowed deductions, this TDS may qualify for refund requests.
Thank you.
Yes, you can show it under the Head Other Sources.
Sir,
.At the time of validating the IT returns the name of the person signing is greyed out.There is no option to fill it when it is mentioned self. Kindly guide me in this regard.
Thank you.
Sorry for the inconvenience. Further to my previous mail, the SIP is from 1.2.2016 and not 1.2.2014, for 5 years ending in FY 2020-21. How to enter the details in the 112A table. Should I enter 60 rows?
I am a senior citizen & file ITR2 every year. My STCG is 5,61,660 & other income is 3,277. LTCG is 41,110. I am in 5% or 10% tax bracket?
Please refer section 112 or 112A of Income Tax Act
Madame your other income is treated in a normal way. If your other income is less than 3 lac no tax. If above upto 5 lacs you pay 5% then 20%.so for excess 0.277 you pay 5 %+ cess.
Stcg is fully taxable at 15% flat. Ltcg first 1 lac is exempted. Rest 20 %
Stcg is fully taxable at 15% flat. Ltcg first 1 lac is exempted. Rest 20 %
Dear Pradeep Sir,
When is ITR2 online coming out for AY 2021-22. I live abroad, and I need to file India Income Tax return online. Thank you for your kind help.
Hi, I am NRI and typically file ITR-2, but this time got delayed in filing AY20-21. Is there a way for me to file that now? I do not have any tax due, but i am expected to get a refund.
You can file it late as long as you were not having taxable income.
However, refund might come a bit late.
Sir,
I want to know that I am a housewife doing purchase/sale of equity shares through my online trading act with HDFC BANK, I received P & L Act statement FYR 19-20 showing LONG TERMS LOSS, SHORT TERM LOSS and SPECULATIVE LOSS and DIVIDEND I have computed interest income from BANK sav Act, income from FD ACT and Post office deposits.
I have no income from any other source.
ITR-3 filed last FYR 18-19. I do not have any taxable income this FYR 20-21. Do I need to file IT-3 or ITR-2
INCOME
I am having income from salary and filing ITR-2 to carry forward current year losses on house property. My income chargeable under the head salaries is 38L and the loss from house property is 5.5L. However in Tab AMT Tax Payable under section 115JC is coming zero and therefore Tax Payable on Total Income is Coming (Part B -TTI) is also coming zero. Please help
Dear Sir – Thanks for uploading such a detailed post to help us understand and file ITR correctly. I have a few queries:
a) I am an NRI (based out of UAE with zero % income tax) for the last 3 years and have filed ITR-1 last year because of lack of knowledge. I understand that I should have filed ITR -2 instead. I do not have any Indian income apart from a small amount of interest earned on Saving Accounts. There is a flat under my name in which my parents live. The question is – Do I need to file any corrected ITR for 2018-19 based on ITR -2?
b) The other query is – Is it MANDATORY for an NRI to disclose salary earned in UAE in the EI Tab? I read somewhere earlier that for an NRI it is not mandatory to disclose the overseas income. However, all the income earned in India must be disclosed. Kindly confirm.
Thanks for your help.
While filing ITR-2 to show LTCG arising from the sale of shares- schedule SI got auto-populated with tax payable over and above 1 lakh. But the same is not reflected in Part B-TI-TTI of the excel utility (latest version), which is supposed to auto-populate from schedule SI column ii. I am also not able to enter it manually. Is this a bug with the utility? What do I do?
I am also getting the same error… Were you able to get a solution for this?
Having a problem with adding rows to ITR2 schedule FA section A3.
I am able to enter 7 rows in the list. After that I can also calculate tax for the ITR2 properly. But if I add one more row and then try doing “Calculate tax” on the ITR2, it gives an alert (error) saying “Enter all mandatory fields in schedule FA”. Just before the error message, the specific section (A3) of the schedule FA where the problem lies is shown.
I have tried reentering the 8th row many times – all with same result. If I delete the 8th row then everything works fine.
Has anyone seen this problem? Tried contacting income tax help desk – got disconnected.
Thanks for any help.
While finalizing my return at last when a summary is generated after clicking generate XML, there is no schedule of CG and OS in that summary in fact it is there in the tax calculation sheet?
What to do now?
In schedule FA, it is not specified which table should be used to declare foreign stock? Screenshots are all blank, perhaps a filled screenshots with dummy data will help more.
My ex-employer has NOT paid my dues but has shown them as paid in my Form 26-AS. This has increased my taxable income. I have not been paid the money but I have to pay tax on that from my pocket. Is there any solution to this problem?
I am a senior citizen. I have one Equity MF redeemed in 2019-20 with LTCG – 25000 (Loss). Other incomes are interests in bank s/b accounts, pension, dividends on shares. Should I file
ITR -1 or ITR-2? Can I file it online?
If you file ITR-2, you can carry over the LTCG/ loss, so that it can set off in future years LTCG ( up to 9 years). But if you do not expect such an LTCG in the coming years, ITR-1 will do especially comparing the cumbersome procedure for ITR-2.
Please check the provisions regarding the set off and carry forward of losses.
ITR 1
I am trying to file ITR 2, AY 2020-21. When uploading .xml file, getting message “Invalid XML. Please generate XML again using the latest utility.” Although I am preparing .xml using the latest utility available on the income tax website. Please advise what to do??
Please use the latest utility to upload the return
Please ensure the Java enabled, while opening the utility
ITR-2 TDS Tab TDS 2 section: “Head of Income” or column 12 is blank but not editable (blue in color). If I calculate Tax, it says “Head of Income” is mandatory. If I try to select from the dropdown menu, it says the worksheet is protected.
What to do?
Please contact to portal regarding this.
In column 12, right side of the first row there is a drop-down arrow, on clicking it you find four heads, move the cursor to the suitable head, it becomes blue, click on it, it will be selected and appears under column12.
Hi. I am facing the same issue – TDS 2 section: “Head of Income” or column 12 is blank but not editable (the field is greyed out). If I calculate Tax, it says “Head of Income” is mandatory. Did you get an update from the IT portal?
Please contact to department
Please give the email id of the department, assigned to look into the technical issues. Issues posted to “Feedback” of the IT department go to WebMaster only.
Delete all the entries in a row. Re-enter the data. The grey cells turn green. Select applicable text. The error message will not appear. This procedure was given by IT Helpdesk. My problem is solved.
Did you get any workaround? Am facing the same issue
“Delete all the entries in a row in the TDS 2 table. Re-enter the data. The grey cells in Col 11 & Col12 turn green. Select applicable text in Col 12; enter the figure in Col 11. Then error message will not appear on tapping the “Calculate Tax” button in sheet, PARTB – TI – TTI”. This procedure was given by the IT Helpdesk. My problem is solved.”
Could you tell me what is the TDS2 – Column 12 – “Gross Amount” and 13″Head Of Income” referring to?
The excel utility ITR2 PR4 (4-11-2020) asks for filling “Head of Income” (Col 12) in Schedule TDS 2 while calculating tax (Calculate Tax), but the utility does not allow to enter the details (the cell is of Grey color)
“Delete all the entries in a row. Re-enter the data. The grey cells turn green. Select applicable text in Col 12; enter the figure in Col 11. The error message will not appear. This procedure was given by the IT Helpdesk. My problem is solved.”
In ITR-2, under Capital Gains, we have to give a break-up of Gain or loss for different periods (I think Quarter). Will you please elaborate on this point. I really do not understand. What is the meaning of these columns? Further, where can we report the losses for set-off, particularly when we are showing scrip wise.
Thanking you.
I was trying to file my ITR for AY19-20 through uploading the ITR-2 .XML file. But on attempting to submit the chosen .XML file it is giving an error message saying “Due date for filing this ITR under selected return filing section is over”.
Kindly advise on this error.
The due date for filing ITR-2 for AY 2019-20 is 30th November 2020 under section 139(4).
In ITR Form 2 Excel Sheet format, every time I press Calculate Tax for determining self-assessment tax, I am directed to select an option from the drop-down in Sheet 80D, which I have already done.
Please help.
Please contact to portal
I have not even been able to locate Sheet 80D. Can you pl.guide me? It doesn’t appear to be a part of ITR 2.
There is separate schedule for Section 80D in ITR-2
I am asking about locating Sheet 80D, not section 80D. I have to exercise my option through it. Without this income tax is not calculated
Dr. Satpathy can you tell me how to locate Sheet 80D in ITR 2? Shall be thankful for the guidance
Go to the “Home” page of the ITR 2 excel utility.
Go to Sl. No. 11 in the table. Check if the character appearing in the 5th and 6th columns is “Y” or “N”. If it is “N”, change to “Y”. Click on the “Apply” and “Save” buttons given adjacent to the table at the right top corner. Sheet 80D will be visible at the bottom of the worksheet.
Filling the cells (by selecting one of the options) at serial no. 1 and 2 of Section 80D in ITR 2 PR3 excel utility calculated tax.
While computing Tax why is it prompting to enter details of the transactions made for 80C from 01.04.2020 to 31.07.2020 & it is re-directing me to 80D schedule.
In the current AY Return, it is mandatory to provide the details of investment made for 80C from 01.04.2020 to 31.07.2020
I have one more question. I came to USA by October and submitted the US tax filing for October to December. So should I have to show the US salary detail for India ITR from October-2019 to March-2020? or should it be January-2020 to March-2020, since I already submitted tax filing in the US for October to December 2019?
I qualify as a Resident of India and currently work in the USA. Where and all should I have to report my US salary detail?
If you are eligible for DTAA then show under DTAA otherwise show under head of income
How will the Brought Forward Losses be entered in the Schedule BFLA? Are they auto-populated from past year’s ITRs or they have to manually enter somewhere? I have a Brought Forward Loss under Income from House Property from AY 2019-20 that I need to adjust with this year’s (AY 2020-21) Income. My ITR for AY 2019-20 was filed within the due date.
They are auto-populated from past years’ ITRs
I am an NRI and work for an international organization. My salary income is tax-exempt both in the country where I am located and in India. My only income in India accrues from my bank account interest in India (both NRE and NRO accounts). Till last year (AY 2019-20) I submitted online ITR-1 and that was accepted without an issue. Now I understand that as an NRI I cannot use ITR-1. Please confirm if ITR-2 is the right form for me. Thank you.
Yes, you can select ITR-2
please give me step by step how to file ITR 2
FOR COMPUTATION OF CAPITAL GAINS INCOME FROM SHARES
PLEASE INDICATE WHETHER GROSS P& L OR NET P&L TO BE CONSIDERED.
There is no concept of Gross p&l and net p&l in capital gain
Only ITR-1 and ITR-4 are available for E-filing. Since ITR-2 is not available on the income tax portal.
I was an NRI during AY 2020-21 working abroad. Do I have to mention my NR salary income in ITR 2? I am confused about whether my NR salary income is to be mentioned in Schedule EI Exempt income under DTAA. Kindly advise.
If your salary income is taxable outside India then you have to show that income in the salary tab and in the DTAA tab and if it not taxable outside India then it will be shown under the salary tab
Two doubts
1. Schedule 112A – Expenditure wholly in connection with Transfer: Do we have to include both cost of purchase and of Sale or only of sale (Purchase can be stated at total cost). But in the case of Grandfathered cost, if we put the total cost of purchase including brokerage etc, the comparison is made between the exchange-traded price on January 31, 2018, and the actual total purchase cost. Which is the correct model?
2. In the schedule “TDS”, do we have to indicate the details Form 16A – wise or only the consolidated TDS for the year by one Deductor. (earlier we had to enter Form 16A- wise as Form 16A Certificate Number was required to be mentioned – but not now. Can you please clarify.
I have the same doubt regarding……
I too have the doubt number 1 of yours. Did you get any clarification on this? I believe ‘Expenditure wholly in connection with this transfer’ should be both acquisition charges (such as brokerage & STT) and sale charges (Brokerage +STT).
can anyone confirm this?
Expenditure related to transfer means selling expenses. For further clarification please contact to the department.
A pensioner and this year need to file ITR 2 thanks for a small Long Term Capital Gain.The filing process went fine till Calculate tax in TTI where it is struck for validating A8 STCGDTAA which obviously relates to short term capital gain and are told to be MANDATORY fields.No transaction for short term capital gain has been done Asks for Treaty, relevant IT act and all which are not relevant for me. Please anyone guide
IF you have no short term capital gain and it is a mandatory field then fill it as zero.
I have booked one flat jointly with my son. while doing part payment I deducted 1% as TDS (Tax collected and paid in FY2019-20)from the amount to be paid to the builder under 26 QB and deposited with the IT dept immediately. Where and how should I show it in ITR2? This amount reflects in my Form 26AS
You do not have to show this TDS amount in your return as seller will get credit of tds amount not purchaser.
Kindly refer concerned section
Trying to file ITR 2 for AY 21-23. After filling up the form and validation no errors are shown. On clicking proceed to verification getting error as *Col 7, cost of acquisition without indexation should be higher of Col 8 and Col 9″.
This is done automatically by the ITR utility and the values are correct still am getting this error and cannot proceed to verify my returns.
How do I resolve this issue? Any help would be much appreciated.
TIA
I am a salaried person posted and residing in Bangalore. I had a property in Ghaziabad which is rented and rent income is being shown in ITR-1 which I was filing till now.
Last year, I purchased another property in Ghaziabad after arranging 28 lacs as a home loan from the bank. I got the property registered in September 2019 but could not let it out till now because it needs some repairs. Please advise
1. Whether I should file ITR-1 or ITR-2?
2. Whether ITR-2 can be filled in an excel sheet and after converting to XML, whether the same can be uploaded?
3. Should the second property be treated as ‘Deemed let out’?
4. I think interest on loan EMI to be considered as a loss (negative income). Am I right?
5. How the amount paid for buying stamp papers for registration to be treated?
Ans 1. You have to file ITR 2.
Ans 2. You can prepare your return through ITR 2 Excel utility.
Ans 3. Yes, the second property should be treated as Deemed let Out.
Ans 4. Yes, you can take benefit of interest on loan EMI.
Ans 5. You can treat it as transfer Expenses.
Prepared ITR2 in Genius. A client is a salaried person claiming HRA at Bengaluru and having a vacant flat at Kolkata. Shown Kolkata flat as deemed let out giving Annual rent Zero and claiming interest on the home loan. The valid XML generates but when uploading into e-filing site the following error pops out “In case of the type of property is let out or deemed let out than Gross rent received/ receivable/ lettable value should be more than zero”
What to do since there can not be more than zero rent for vacant property. Tried showing as self-occupied property but then denying HRA.
Parmes
In case of Let out or deemed let out annual rental value can’t be zero.
My employer is based in SINGAPORE and does not deduct any tax from my salary. I pay my tax on my own.
However, in ITR2 (AY 2020-21), TAN of my employer is being asked for.
How do I proceed?
Regards,
Indranil
Tax paid by you will come under self-assessment tax and no TAN Number is required
I have income only from my NRO accounts TDS for which has been deducted. Do I have to fill up all other schedules that are irrelevant?
Yes, you have to fill the schedules which are mandatory to file an ITR.
As a HUF, we have agriculture income and bank interest on the same. Interest in other sources of income and agriculture income in EI. Is it correct.?
Yes, it is correct
What’s the treatment of LTCG EARNED THRU SALE OF DEBT FUND.BOTH WITH AND WITHOUT TAXATION. DO WE NEED A SOFTWARE TO FILE ITR2.ITR-2 asks for XML UPLOAD.DO WE NEED A SOFTWARE TO PREPARE IN XML FORMAT THE REQUIRED INFORMATION AND THEN SUBMIT. PLEASE GUIDE.
While filing ITR 2 online. It shows download XLR file But where I can locate the same for filing
Please guide me. Where I put my capital gains both short term and long term in column and row.
My inquiry is regarding 1 Lakh exemption in CG, a lot of persons have enquired about this where you have advised them to contact the department. But in case of Dorair J R while answering the same query you have written that 1 Lakh exemption in LTCG is now reduced from the total income of the assessee rather than from CG i.e 1 Lakh exemption is now allowed at the time of calculation of tax on LTCG. But I do not see any column in ITR 2 where this 1 Lakh exemption is reduced from total income while calculating the tax. Please clarify. You have given this answer on July 18, 2019. Pl answer on my mail address. Thanks in advance.
Earlier utility allows the deduction of Rs 1 lakh from the total income but now utility allowed this 1 lakh exemption at the time of calculating tax on LTCG.
Thanks for the guidance. I have two queries (i) for NRI which address to be submitted in General page – India or abroad. & (2) where to reflect Dividend income in India, it is nearly 10k.
DIVIDEND RECEIVED FROM DOMESTIC COMPANY IS EXEMPT U/S 10(34) SO YOU MAT SHOW UNDER EXEMPT INCOME
Yes, Where in ITR 2 do we show exempt income u/s 10(34A) on buyback of listed shares post 5jul19?
Yes, you can show your exempt income in every ITR under the head exempt income
I do not see an option to declare exemption u/s 10 (34A) under the head EI – Exempt Income in ITR2. So how can declare this exempted income.
Loss of short term and long term capital gains of AY 20-21. Please inform correct entry on what column and row
The ITR 2 to be filed after 7.8.20 version, after validating each applicable page, when we click to version ‘compute tax’ cursor goes to HP schedule for filling income from House property schedule. As we do not any property how can we fill the HP schedule we are not able to skip the page. Can you help?.
Rectified on 12 Aug and intimated to me by income tax dept on 23 Aug 20
I have filled the complete ITR 2 form and now I see that a new version is released on 12th Aug (where it runs fine without filling the schedule HP when I don’t have anything to declare there). How can I import what I have already filled (in the old version form) to this latest version?
No, you can’t import.
Thank you for the detailed explanation.
I need help to fill my Capitals Gains sheet in ITR 2.
I have sold my house in May 2020 (bought in 2014) and invested double the amount in another new house in Jul2020. I would like to get the TDS refund (deducted by the buyer of my house sold in May 2020). Could you please guide me to fill out the details in ITR2 in Capital gains section.
Thanks!
Please contact to Department.
Reg ITR2
You have very nicely explained.
I am a senior citizen and file my returns myself online.
For AY 2020-21 I have downloaded ITR 2 (excel form) from the IT site. I have a problem reg. LTCG.
I have filled up Sch 112 A and LTCG come to about ₹6000. I think this amt is exempt as it is less than ₹ 1lakh. However, in Sch. CG, BFLA, CYLA, etc. this amt is taken as taxable income. Please advise whether this LTCG amt (6000) is Taxable or exempt and why it is not reflecting in Return. Thanks.
PLEASE CONTACT TO DEPARTMENT
I am also having the same issue.
Dear Swaminath Gaud
I also had the same doubt. After scrutinizing the Form very closely I Came to the following conclusion. From Col No 14 of Sch 112 A the Long Term (Equity) Capital Gain is carried over to Schedule CG-LTCG- B (4) (a). The description in the next column is “Deduction under 54 F”. This should have been deduction under Sec 112 A. 54 F refers to deduction of reinvestment of capital gains on the sale of a house in buying another house.
I hope you have filled up the row F 5 and distributed it to CG over the year as appropriate. This will be required.
You can also press the Validate button on where the error is.
I was able to do it in my case.
Sir,
I am filing ITR2 for the first time as I sold my House in Nov.2020. My Query is
1. I am enlisting details of House Property as self-occupied as it was with me this financial year until I sold.
2. There is a column to show the cost of House with Indexation for CG calculation. Form do not ask the year of Purchase etc. Is it there anywhere in ITR2 requiring this information.
Regards
Please contact to department
Sir,
While filling ITR-2 Section CG, I could not find any section on the sale of Bond/Debenture where one can take advantage of Indexation on ale of debt MF after 3 years. Under which section of CG it should be reported? Please guide.
Unable to file ITR-2 directly online, it is asking for uploading XML file. It is not showing submit online.
I have LTCG on the redemption of equity mutual funds. Is it mandatory to fill Schedule 112A?
Can I directly fill the consolidated result in the LTCG part of Capital Gain?
Please comtact to department
FY 2018-19 it was possible to calculate and put consolidated values for LTCG in 112A. This year FY 2919-20, makes more sense to do. SAG, while helping people with details, should help by advising IT Dept.
Yes, In FY 2019-20 you cant put consolidate LTCG value. You have to fill details scrip wise for all transactions.
Last year ut was possible to put aggregate value arrived at considering details if all scripts. Thus year, it seems, all script details are to be given. Any comment?
Yes, “you have to fill scrip wise details of all transactions in 112A.”
112A: It asks to put Daur value if scrip on Jan 31, 2918. Also that if bought before that date. But appears mandatory to put fair value even for those bought after Feb 1, 2018. Some bug? Or I missed something?
If I don’t put a fair value on 31 Jan 18, it gives an error.
If you purchased securities on or before 31 Jan 2018, FMV as on 31-01-2018 is mandatory
Sir
you have stated that a person who has no business or professional income but having income as a partner of a FIRM has to file ITR 2. I am not finding any column /row where I can give info on such income. Can you please clarify
thanks
ITR-2 is applicable for the assessee having income other than income from business/profession. Income as a partner from the firm is treated as business income so ITR-2 is not applicable
I am an NRI with interest income from a bank in India. I am not employed in India and hence don’t have an Employer.
When saving ITR-2 using the Java version, I get validation errors “Please enter Name of Employer in Salary Schedule.”. Since I am not employed in India, what do I do to fix this error?
Thanks!
Sir, You have to fill the details of the employer in salary schedule and in State, you have to select State Outside India. You also have to fill details of salary in DTAA
Sir,
when you are showing income from salary as a non-resident, java is calculating tax?
Because in my case it is calculating tax.
If your salary is getting taxed in both the countries then you will get relief under DTAA scheme.
But how to get relief under DTAA or show the same in ITR2 form. Can you give more details?
Description of Income at Sr. No 1 in schedule Salary is required.
I am getting this validation error message in ITR-2 Salary Tab. this Field is protected, looks like a bug
Anyone else facing this issue..plz comment
Please contact with Department
Dear Sir
I am an NRI working in Dubai. Do I have to fill the salary section? If I fill tax is calculated. My understanding is salary earned abroad is not taxable in India
but without filling salary details the ITR Form 2 is not calculating the tax
If we fill a huge tax is shown as payable. Can you pl clarify
Please contact to Department
<>>
Getting an error message. The ITR-2 under SALARY Tab of the Excel is validating for the Salary description field which is Protected.
Did anyone else got this error, plz help
I have purchased an equity fund after 31st January 2018 and sold it after a year. Schedule 112A of ITR 2 shows a column 10 for entering NAV on 31 Jan 2018. It will not allow leaving it blank. Shows error message during Validation that it should be filled. Any suggestion?
There seem to be validation errors on protected files, I think soon new version of the file might be available.
The issue under Salary tab
<> But this is protected file can not update
Please contact to department.
That is the column for FMV(Fair market value), if no FMV put a zero there
Where do we show investments made between April 20 to July 20 for claiming deduction u/s 80c?
First, you have to show the total amount including investment made between April to July 20 under the 80C deduction column under Chapter VI. Then you have to show the amount of investment made between April 20 to July 20 in schedule DI 80C Column.
Besides income from salary, interest, and House property, I have redeemed from MF as per SWP and have earned STCG of Rs.2000/- nd LTCG of 23000/-. Do I need to file ITR 1 or ITR 2?
Hi,
I am filling details under the salary section in ITR 2 for AY20-21. My Form 16 has listed entire salary under 17(1), which I have updated in the ITR when I input details of HRA in the allowance exempt u/s 10 part under 10(13A), it gives an error saying “Amount of exemption should be restricted to min of the amount entered under “House Rent Allowance” in sl no B1a.
I am unable to find this B1a in the ITR.
Pls advice.
Thanks.
Please contact to Department
The revised version of the ITR-2 ( Excel download) has a bug. It validates for the Description field under SALARY Tab of the Excel and expects a text, but at the same time description filed in Protected.
Error while validating the Salary Tab
<>
But this is a protected field.
Did anyone else face this issue, how to correct this
Should “under construction” house property needs to be declared in Schedule HP? And also Loan liability in schedule AL?
Under TAB VI A
(f) 80D-Deduction in respect of Health Insurance premia. (Please fill 80D Schedule. This field is auto-populated from schedule 80D.)
Validation in Excel under the above section of tab VI A doesn’t allow to fill this field. Also, It does not allow to fill the 80D, protected sheet.
Can anyone help.
Please populate Sheet 80 D from the Home sheet and put if any Senior Citizen in your family or not in the sheet
Should i file ITR-2 if i have LTCG less than 1 lakh and also very minimal Short term capital loss. Please let me know.
Yes, you can file ITR 2
After filling the Sch. 112A the LTCG amount calculated is being directly taken @ 10% . However the LTCG is less than 1 lakh. IN this case why this is not getting offsetted. Or should i file ITR-1 incase of LTCG less than 1 lakh. Please clarify.
“PLEASE CONTACT TO DEPARTMENT”
Hello! I am trying to file ITR 2 online, but it seems only ITR 1 and 4 are available for filing as of now. Would anyone know when ITR 2 can be filed online pls? Or am I missing something and it is possible to e-file ITR 2 already? Thank you for your help and advice!
Now only ITR 1 and 4 are available for efiling and ITR 2 is not available
Any idea by when this will be ITR 2 available for download?
How to download and fill ITR 2
The tool 112A attached to the schedule CG in ITR 2 can not be filled properly in case of assets acquired after the grandfathering date of 31/01/2018. The system does not allow col. 10 to be left blank and it is not clear what is to be mentioned in that col. in respect of assets acquired after the grandfathering date.
ITR-2 is now available for download in excel format. For this you do not even have to login.
Thank you! Would you know if it will be available eventually and by when approximately?
Good Afternoon, ITR2 has been filled and .xml file generated. However, after logging-in, while uploading online, the error reads:
“In Schedule VI-A, the sum of Sl.no. 1a to 2u is not consistent with total deduction sl. no. 2v.”
Kindly advise what could be the possible reasons for this error.
Thanks.
ITR 2 ONLINE FILING NOT ENABLED
I am facing same issue, has anybody found solution ?
In which column of ITR 2, I will fill salary arrears
Very exhaustive & well covered.
(a) I am a Defense Veteran who is in receipt of Pension & currently working with a Private Organisation.
(b) Both self & wife have a Joint Ownership property which is self-occupied and 100 % Loan for its purchase was funded by me.
(c) I am in receipt of Pre – EMI Interest Deduction from House Advance Tax (for next five years wef FY 2017-18), which is reflected under ‘Income Chargeable under the Head House Property” which is Negative.
My Query: Does one need to file ITR-2 Form for filing my I-Tax Return
(i) Under Schedule 5 – under S.No 1 does one include both my current Private Employer & my Pension Details (under Details of Income from Salary).
(ii) Under S.No 1 of Schedule HP – what should one reflect under ” Your Percentage of Share in the Property” & what should be reflected under Percentage Share in Property in r/o of the Co-Owner which in this case is my wife.
(iii) Where does one reflect my Pre – EMI Interest Deduction from House Advance Tax which is reflected under ‘Income Chargeable under the Head House Property” which is Negative.
Appreciate your revert.
Thanks & Regards
Ajit
I cannot see the option of ITR 2 while filing returns on the Income Tax portal. I can only see ITR 1 and 4 as the available options. What am I missing?
ITR 2 is not available for e-filing
Hi,
I live in the USA and file ITR2 in India. I Attach the same to my USA TAX returns. Since I don’t see ITR2 available and the US Filing deadline is nearing what can I do? Believe worst-case scenario, I will have to submit amended US returns when ITR2 is filed.
thanks,
Raj
If it’s not available online, how do we file return? and what’s the due date to submit the return.
30 Nov 2020 for AY 20-21
ITR2 utility us available now.
Anyone has any idea if details of every share transaction has to be entered in 112A? It’s clumsy if one has large number.
SAG??
Yes, you have to fill scrip wise details of all transactions in 112A.
For AY 2020-21 you have to
Yes for AY 2020-21 you have to fill Script wise details
My friend is an NRI residing in the USA. He owns a house in India and his parents are living there. As he is not receiving rent from this house is it necessary to declare this in ITR-2. If so can he show the rent as zero (self-occupied)
If Assessee owns one house property in India then it is shown as self-occupied only. Yes you can declare it in ITR-2
Thank you for the very well explained video on LTCG calculation and ITR2 filling in detail
My wife purchased Land from a Housing Society for 1,64,125 on 28/2/2001
Sold to two persons on 2/5/2019 for 39,00,000 (buyer1) and 24,10,000 (buyer2)
Both have not deducted any TDS as individual sale consideration is less than 50 Lakhs
I and my wife jointly purchased one residential flat on 2/11/2019 for sale consideration of 1,48,00,000 (one crore forty-eight lakhs).
My wife invested complete sale deed consideration of her land sale Rs 64,10,000 and her bank FD.
I have invested my retirement benefit and Bank FD. Both have deducted TDS of 74,000 each and paid to Income tax by challen.
Now my wife wants to file ITR-2 before June 2020.
My wife keeps filing ITR every year even though her total income (only bank FD interest) is less than 2.5 Lakhs in every year.
Please verify and suggest regarding the legality of the above transaction.
Please guide how to fill ITR2 – CG section 54F to claim exemption
Thank a lot
Show less
To declare the RSUs under Schedule FA – Section A3, what should we consider the peak value of an investment? Do we need to consider the peak value of the share during the accounting period to arrive at the peak value of an investment? If yes, this is just notional income, only paper. Or the total value of the investment made by you (means initial investment + additional investment during the accounting period). Please clarify. Thanks in advance
You have to consider the peak value of the share during the accounting period to arrive at the peak value of an investment.
While declaring espp in the Schedule FA, what should I consider as the peak value of the investment , closing balance- whether closing balance for the whole year or till now, what should I consider for the total gross amount paid /credited with respect to holding during the period- please clarify. Thanks in Advance
For details of unlisted shares, information is to be given for the number of shares purchased during the year and date of purchase. As there is no purchase during the year, I filled 0 in both the columns but it is giving an error message for date of purchase and asking for a date to be mentioned in dd/mm/yyyy format. As there is no such date in absence of any purchase, how I should fill this column.
Leave the columns blank instead of entering 0.
Sir, I am a pensioner and used to file my income tax ITR 1 but during FY2018-19 I sold some shares incurring a loss. I am told in ITR 1 I cannot show losses due to the sale of shares. Request advise how do I proceed. Thanks
Before saving ITR 2 excel XML file, XML summary is displayed of all the schedules except Part A General, OS and Part B – TI – TTI with the number of entries made and the total amount against each schedule. An amount has been entered as short term loss in CFL schedule for the loss made in 2016-17 and since there is no ST capital gain last FY, set-off is not done.
The XML summary mentions FILLED for no. of entries and NA for the amount against CFL schedule. Whereas for EI schedule, both FILLED and the actual amount are mentioned in the XML summary, Kindly advise if the data as being shown against CFL schedule in the XML summary is okay and the XML file can be saved for uploading.
The XML summary shows a set of selected schedules, except Part A General, OS and Part B TI – TTI, with the corresponding number of entries made and the total amount. For CFL, it mentions FILLED but instead of the amount, it mentions NA. Whereas for EI, both FILLED and the amount are mentioned. Is this okay or corrections needed?
The ITR form is ITR 2.
1. Can I adjust short term capital loss in share transaction with short term capital gains from liquid MF? If so, in which schedule of ITR2 it could be shown?
2. Is dividend from liquid MF taxable?
I am a resident- Indian. I am having income from Salary and capital gain from equity and other sources like FD intt. I filled up ITR 2 all scheduled except HP and AMTC, PTI, FSI, TR-FA, SCH5a, AL. After completion of all, calculate tax button is pressed and no tax liability had come and whatever advances tax had been paid, it’s came as refund as total taxable income ( above 6 L) shown as deemed income under 115JC in PartB-TI-TTI schedule. How it’s happening? It is showing in AMT scheduled automatically.
Yes, the total income automatically gets posted in SCH. AMT. There is no issue in that since no liability will be calculated as long as AMT does not apply.
After generating XML file for ITR2 and further after saving that, when I upload the XML file and submit then one message is coming ” No file is selected” and on top another one message is showing that is “The XML Schema is invalid. Please upload the XML in the correct Schema. At Line Number 303: Invalid content was found starting with element ‘ITRForm:DeductionUs54F’. One of ‘(http:/incometaxindiaefilling.gov.in/master”. ExemptionOrDednUs54)” is expected. This message is showing. So I couldn’t submit the return. Please give useful tips so that I can submit the return. I am having CG loss in both.
Thank you, Sir
if you are filing the return through genius software, then please make sure that your software is updated.
I filled all details in excel format in itr2. Validate all required sheets and calculate tax using calculate tax button. Then generate XML button is pressed. Then a summary of sheets is appearing on the screen and save XML button is visible on the screen. After pressing save XML button file is saved as XML format. Then I am selecting the XML file to browse and submit the same. This time the above-said message is coming. Please guide me how I cam submit the itr2 return.
Thank you
Same thing happening with me. But how can tax liability be zero?
Sir, I am filing ITR2, my STCG for FY 8200( PROFIT= 20000, LOSS- 11800). During filing, we need to submit the quarterly STCG details (under table F(1) of CG schedule).
I made a profit of 20000 in 1st 3 quarters and loss of 11800 in quarter4 so STCG for FY is 8200 only. But table F(1) is not accepting negative values so my profit becomes 20000 for FY. Please suggest me to fill the form
Thank you, sir,
You will have to show the net figures in table F(1) after adjusting the losses.
I read on the internet that if capital gains covered by Sec 10(38) are only there then we can submit in ‘others’ tab in other sources of income.
I have some capital gains from the redemption of equity mutual funds, capital gain from one fixed maturity plan and some capital gain from a liquid fund. Stt was charged on all but the fmp at the time of redemption or maturity.
Can the return be filed in itr1
If you have income under the head Capital Gain, you can’t file ITR 1
Offline form is fine. What about Genius software filing procedure step by step would be advisable. Especially Equity oriented units LTCG is bit tough while filling in Genius software. It asks scrip wise details where as IT dept states it is not required scrip wise. Kindly look into it.
Kindly update the software. Now both the options have been provided in Securities LTCG i.e. scrip wise and without scrip wise.
Which ITR I need to file? I am working in a PSU also I have 4k profit in positional trading of equity shares.
It depends whether you show your share trading as capital gain or business. In the first case, ITR-2 will be applicable while in latter case, ITR-3/4.
Its a capital gain so ITR 2 it is…thanks a lot for your time!
welcome
ITR 2 : 22C(2) – TDS3. Details of Tax Deducted at Source (TDS) on Income [As per Form 16B/16C issued by Dedicator
I have purchased a flat which is above 50L. Seller asked to pay me 1% TDS 26QB and provided 16 B which I did. Now in this ITR-2, 22C(2)
1. what shall I fill. (Self or other person)
2. Column 9 will be the TDS value?
3. Column 11 Gross amount will be value for witch TDS was paid?
4. Column 12 Head of Income will be (Income from house prop or income from Cap. Gains or income for other source or Exempt income??
Please note that this schedule is required to be filled by the person claiming TDS i.e. the seller. So being a buyer, you do not need to fill any of these details.
Sir,
I’m a salaried person and have received small commission/brokerage of Rs 8000 in fy 18-19. Which form should I use and where should I put this figure.
Thanks & Regards
It depends whether you treat your commission income as a business or as income from other sources. In the first case, ITR-3 will be applicable while in later case ITR-1.
I want to club House property income of my spouse in my returns. It is clear how to add this in schedule SPI of ITR 2. But in schedule HP, how do I include clubbed income?
Show the income in relevant head i.e. house property along with disclosure in schedule SPI.
Thank you for the response. I added a row in schedule SPI and selected head of income as House Property. My confusion is about how to include this income in schedule HP. Should it be added in item 1a “Gross rent received or receivable or let able” in HP?
For FY 2018-19, I sold a property that was jointly owned by my father. If I sold the property at Rs. 50L and had purchased at Rs. 46L, should I put “Full value of the consideration received” as Rs. 25L and “Cost of acquisition” as 23L for each of us, assuming we have 50% share each; or, should it be 50L and 46L for these 2 fields for both of us?
Please suggest.
Individual share has to be entered in the relevant fields i.e. 50-50% each in both ITRs.
Thank you! In that case, what should be entered for “Value of the property as per stamp valuation authority” – will it be the full value of the property or 50%? Asking this because the “Full value of consideration adopted as per Section 50C for the purpose of Capital Gains” has to take the higher of “Value of the property as per stamp valuation authority” and “Full value of the consideration received”, as I know it.
Thanks in advance! I am struggling to get an answer to this query.
Again as per our understanding, 50% value should be in filled in “value of the property as per stamp valuation authority”
In this scenario of selling joint property, can you please advise on what is the purchase amount for the buyer that should be provided in Sec.B.1.f (Schedule CG). Here, it asks us to provide buyer details (name, address, PAN, Aadhaar) and buyer purchase amount and percentage share. In this example, should we provide the buyer purchase amount as 25L or 50L? Note: In Form 26AS of each of the sellers, the property value sold is mentioned as 50L.
PLEASE SPECIFY THE QUERY
I have submitted form ITR 2 for my salary income and capital gain income from the sale of flat but in ITR V e verification copy capital gains details are not appearing, what may be the reason?
It might be possible that your overall capital gain income is a negative i.e. loss. You are advised to check your return form schedule CG to verify the same.
Thanks for the prompt reply. There is positive capital gain income & no negative capital gain income. when the capital gain computation is not appearing in ITRV, does it mean that my ITR2 is not properly filed.please advise me how to view schedule CG form? Thanks.
Hi, I am an NRI. I have to file ITR 2. My resident status is of Bahrain, where has Nil Income Tax. I have to provide salary earned in Bahrain under exempt income and foreign income. But as per my understanding, NRI will not cover under DTAA. Is it correct? Then where should we show a foreign salary in ITR 2
If any tax is paid in a foreign country, you will have to show the income in the relevant head along with Schedule FSI. Otherwise, show the income directly under the exempt income schedule.
I have exempt LTCG and taxable STCG. Is it compulsory to fill in the new Schedule 112A?
There is no concept of LTCG exempt from AY 2019-20. It is mandatory to fill details in Sch 112A if the conditions of this section are satisfied.
In my case, I have 25000 LTCG from shares. But up to 1 Lakh is not taxable. In that case, what should I do?
Could you kindly advise where should I fill the details of the Gratuity amount received? In the Exempt Income page on the excel utility file, I’m unable to find Sec 10(10) to fill the gratuity amount received.
Gratuity amount should be shown under Schedule Salary under column Salary as per section 17(1) and exempt amount to be shown under column ” less: Allowances exempt u/s 10″ in other section columns.
hi, I want to file ITR 2 for the first time. I want to know whether tax paid particulars are populated straightaway or I have to type those particulars. And how do I make any payment if there is a short, whether the window will automatically open? thanks
If the details of taxes paid are available in 26AS, then that will be auto-populated in prefilled generated XML and for the short tax payment, you need to enter the entry manually.
In the ITR-2 for excel utility under LTCG section 4a
i A. Cost of acquisition
i B. if the long term capital assets acquired before 01.02.2018 Lower of B1 & B2
Is it correct? Please clarify sir.
As per new changes in LTCG calculation, and insertion of new section 112A and grandfathering provision, details of FMV should need to be entered for arriving at cost of acquisition.
Hello Sir,
In ITR-2 of AY 2020-21 under Schedule 112A it makes “FMV as on 31/1/18” field mandatory & computes LTCG on assets bought after 1/2/18 based on this FMV.
How is FMV as on 31/1/18 relevant while computing LTCG for any asset bought post 1/2/18? Shouldn’t this FMV field be not-applicable in such a case? Isn’t this a bug? OR is there a different Schedule/section in ITR-2 to declare LTCG from assets bought after 1/2/2018?
Please clarify.
If assets purchased after 31st Jan 2018, FMV field be not-applicable
I am residing in the United States and need to fill ITR 2. What will be my Jurisdiction Residency? Is it a Country name, state name or residential address or something else? How to find this information?
Jurisdiction is the State or district of the place of residence.
Hello, I am getting an error on ITR 2 Jurisdiction Residency. I am NRI and filled 2-UNITED STATES OF AMERICA and my Passport no for TIN. Sheet validation shows ok but when I submit XML it shows “at line number 49: the value “2-united states of America” of element ‘ITRform: Jurisdiction Residency is not valid” I have entered different place names still the same error.. can anyone suggest?
The department has now given a dropdown for the jurisdiction of residence in its return filing utility. So select the jurisdiction from dropdown only, do not write it manually.
Dear Sir,
My daughter is staying in the USA and she has only fixed deposit in India. for claiming refund itr-2 to be filled. in address details is she to mention US address or Indian address. for her salary in the US, she pays taxes there. are they to be mentioned in ITR-2 also. please clarify.
Sir, I am a salaried person and used to file my IT returns under ITR 1. During FY 2017-18, I sold my flat. There was a long term capital loss and I have filed my IT returns in ITR 2. Kindly clarify, whether I have to file ITR 1 or ITR 2 for FY 2018-19. I have only salary income for the year.
Thanks.
ITR 1
Dear Sir
Please help me. I am a pensioner and am filling up the offline XML ITR-2 for uploading. I have the Form-16 from my ex-employer as also Form-16A from Banks 2 that has deducted tax from me on account of the interest income from deposits. In the ITR-2 TDS sheet, filling up Table 22B is no problem (TDS deducted by my employer). However, while filling table 22C (1), there are always errors whatever way I fill them. There is no unclaimed dividend brought forward and all the TDS are in my name and for the current year only.
Can you please guide which of the columns in the said Table should be filled by me and how not to get those error messages. Some of these error messages are – “Total in Col 9 cannot be more than total in Col 6 or Col 7, as the case may be”, “Unclaimed TDS brought forward” and details of “TDS of current FY” should be provided in different rows”, “Enter the FY in which TDS was deducted at Sr. No. 1”, etc.
Thanks in advance.
“Dividend” may please be read as TDS and “Banks 2” may be read as 2 banks
Have the same query as above. Do you send a reply on mail? If so pl send me a detailed reply.
Thanks
SK Goel
please let me know if u got solution to this
Thank you so much for your detail steps. I was able to follow your step by step guide and able to file my returns. Appreciate your time in putting it together.
Sir,
ITR-2 online version is not available. My question is whether will it be available after some days or we have to prepare and submit the XML file. Please clarify.
Thanks.
ITR-2 has to filed via XML only.
Sir, I am a resident senior Indian and filing ITR2 since I have a small Capital Gain from equity shares. I also earn a pension, house rent besides interest income. After completing all ITR2 schedules, PartB T-1 shows my net taxable income at Rs490000, which should be taxed say app at INR 9500. Instead, it leads me to Schedule 115jc (AMT), min alternate tax and arrives at Zero tax. Please guide.
Income will be reflected in Schedule AMT since the amount is auto-filled from Part-B BTI. but tax will be calculated only if AMT is applicable.
The option to fill and submit ITR 2 online is currently not available on the e-filing site, it cannot obviously be done now. It asks to upload XML file? However, my query is whether we can expect that option to become available anytime before the last date of filing returns, viz. 31.7.2019? And was this option available in the past? How we can prepare the XML file and upload it?
THANKS
ITR 2 cannot be filed online like ITR 1 or ITR 4. You have to go to Incometaxindia site, you can upload this XML file to file your IT return.
Hope this will resolve your problem.
Sir
I have two queries:
1. I have sold some listed shares during the year, which were held for long. But the sale consideration of all of them (individually and collectively)is less than the closing price of the share as on 31.01.18. As such, I feel that there is no long term capital gain. In this case, please inform whether I have to fill up this column “Long term capital gain” or not.
2. House property is owned jointly by me and my wife. In this case, for interest paid on borrowings for the house purchased, whether I have to give the full amount of interest paid or only the proportionate amount according to my share of the property (50% or 60% as the case may be)
Kindly clarify the above points
1. Yes you need to show the details.
2. If the interest is fully paid by you, you can claim the whole amount of interest as a deduction.
For AY 2019-20, ITR-2 is not available online. when it will be available?
It is now available, you can file it now.
SINCE THE OPTION TO FILL AND SUBMIT ITR-2 ONLINE IS CURRENTLY NOT AVAILABLE ON THE E-FILING SITE, IT CANNOT OBVIOUSLY BE DONE NOW. HOWEVER, MY QUERY IS WHETHER WE CAN EXPECT THAT OPTION TO BECOME AVAILABLE ANYTIME BEFORE THE LAST DATE OF FILING RETURNS, VIZ. 31.7.2019? AND WAS THIS OPTION AVAILABLE IN THE PAST?
THANKS
ITR-2 is available now for e-filing on the income tax portal.
BUT IT IS NOT THE SAME LIKE ITR-1, WHICH YOU CAN FILE ONLINE. IN ITR-2, YOU ARE ASKED TO DOWNLOAD FORM TO FILL UP ONLINE OR OFFLINE, AND THEN UPLOAD XML.
THANKS ANYWAY.
I AM TRYING TO FILL THE ITR-2. I HAVE INCOME ONLY FROM (a) INTEREST, (b) ABOUT RS. 2,000 FROM DIVIDENDS, AND (c) FROM LONG TERM CAPITAL GAIN FROM SALE OF RESIDENTIAL LAND. NO INCOME FROM SALARY. BUT THE SOFTWARE INSISTS ON PROVIDING DETAILS OF EMPLOYER AND WOULD NOT ALLOW ME TO MOVE TO CALCULATION OF TAX ETC. WITHOUT THIS. ANY ADVICE ON THAT.
There is no such validation of providing employer details mandatorily in ITR-2 if you don’t have any salary income.
There is such validation in the Java tool, it doesn’t allow you to calculate tax until you fill Employer details in the Income from Source section. And we add income details earned outside India then it calculates heavy taxes on the same. Can you check and let us know how to file it?
Dear Manjit,
If you have got the solution then pls let me know as I have the same issue….thanks
Hi Manjit, did you get any solution for this issue on Income from the source? I am also not able to file ITR2 because of the same issue.
FOR AN NRI, ITR 2 ASKS FOR TAXPAYER IDENTIFICATION NuMBER. USA does not give Tax Identification number like PAN in India. But in the USA they give Social Sec Nr. ( SSN ) . However since ITR2 specifically asks for Tax Identification Nr for NRI, can the NRI provide his Indian Passport number as the PP nr is more identified with any person. Pls, advise. Thanks
Taxpayer identification number represents any kind of identification number allotted by foreign tax officials for identifying the taxpayer. So whatever kind of identification number provided to NRI, same should be mentioned under the TIN tab.
In ITR 2 AY 2019-20, details of unlisted shares held are required to be mentioned. Many companies whose shares were issued in IPOs in the past are now not listed, and their whereabouts are not known. How can anyone give details of PAN nos. of such companies in ITR 2? Further, would it not be adequate for the Govt. to call for the information on unlisted shares only where such shares were either purchased during FY 2018-19 and/or were sold during FY 2018-19? Sale of unlisted shares is, in any case, required to be reported under Sch. CG (Capital Gains) on ITR 2. Kindly guide in this matter. Thank you.
You can raise this issue in the grievance portal provided by the department. As of now, the department has mandated such details in ITR-2.
ITR 2 Long term capital gains. I have sold some shares bought after 01 Feb 2018 and some bought before this date. How to show both in capital gains statement. Further, the software is taking as income even when the same is less than RS one lakh
There is no separate column provided in the |ITR form to show LTCG on shares bought before 01/02/2018 or after 01/02/2018, only in case of shares bought before 01/02/2018 additional info of FMV as on 31/01/2018 is required. Further as per new schema changes in ITR 2, Rs 1 lakh exemption in LTCG now reduced from the total income of assesee rather than from Capital gain i.e. 1 lakh exemption now allowed at the time of calculation of tax on LTCG.
Hello Sir,
Please note that the FMV field can’t be left blank. If left blank it gives validation error.
What should be entered in the FMV field for assets that were bought after 1/2/2018 and sold thereafter one year of holding period?
If we enter FMV as on 31/1/2018 then the Gain is computed based on this FMV and actual COA i.e., grandfathering clause is applied which I believe is incorrect.
And if we don’t enter FMV as on 31/1/2018 then it gives validation error.
Please clarify…
If assets purchased after 31st Jan 2018, FMV field be not-applicable
DO NOT MIX UP WITH UNLISTED WITH DELISTED SHARES. UNLISTED SHARES MEANS PRIVATE CO SHARES ALLOTTED ON PVT PLACEMENT BASIS AND IF NOT LISTED THESE ARE CALLED UNLISTED SHARES. DELISTED SHARES ARE SHARES ARE EITHER DELISTED DUE TO NON COMPLIANCE WITH SEBI REGULATIONS OR DELISTED AS THESE CO HAVE BECOME DEFUNCT AND NOT TRADEABLE IN THE BOURSES. SO THESE SHARES DO NOT HAVE A VALUE AND SO NO NEED TO REPORT UNDER UNLISTED SHARES AS THESE HAVE LOST ITS INVESTMENT VALUE.
I am a senior citizen getting EPS-95 pension and having some mutual fund exposure. I am filing ITR-2 in excel format. Since my pension is coming under salary income I have some queries :
1) What should I write in place of employer name? Shall I write my old employer name or EPS95?
2) Since I am getting only pension and no other allowance or deductions, how do I furnish other details in this new 2019-20 format? I am not able to leave blank those things because it is not validating
I will be grateful if anyone could answer my queries.
1) You can enter ex-employer details therein.
2) You need to select the option “whether pensioner” as yes and then need to enter pension amount under “Salary as per 17(1)” column.
Step by step ITR 1 Procedure on salaried person
Get here: https://blog.saginfotech.com/file-itr-1-online
I WANT TO KNOW THAT WHILE FILING ITR 2 IN CASE OF NRI WHAT IS TAXPAYER IDENTIFICATION NUMBER?
Taxpayer Identification Number will be tax identification number allocated by the country in which assessee is resident or of that country in which income of NRI is taxable.
FOR U.S RESIDENTS SOCIAL SECURITY NUMBER IS TAX IDENTIFICATION NUMBER
under long term capital gains for equity mutual funds where stt is paid, where the long term capital gains are zero after grandfathering, is it required to furnish the original cost of acquisition, grandfathering cost, etc.
All the details i.e. original cost of acquistion, fmv as on 31.01.2018 required to be mentioned in the return for calculation of capital gain liability.
Hello, I am trying to fill ITR 2, but it is not coming as an option when I try to do it online. In the drop-down, I can see only ITR 1 ITR 4. Could you please help
Only ITR-1 and ITR-4 are available for E-filing. Since ITR-2 is not available on the income tax portal, you cannot file ITR-2 now.
Online still ITR 2 For ay 2019-20 is not available when it will be available, for Offline where to download Pre Filed XML file
Only ITR-1 and ITR-4 are available for E-filing. Since ITR-2 is not available on the income tax portal, you cannot file ITR-2 now.
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