What is the ITR 2 Form?
The ITR-2 is filed by 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.
- 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
ITR 2 Filing Start Date for Taxpayers
The Income Tax Department launched an online filing for the ITR-2 form on July 18, 2025.
Eligible Taxpayers for Filing ITR 2 Online AY 2026-27
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 to file Income Tax Return 1.
File ITR 2 Via Gen IT Software, Get Demo!
Due Date for Filing ITR 2 Online FY 2025-26
- FY 2025-26 (AY 2026-27) – 31st July 2026
- FY 2024-25 (AY 2025-26) – 31st July 2025 | 16th September 2025 (Revised)
- FY 2023-24 (AY 2024-25) – 31st July 2024
Every year, on or before 31st July is termed as the last date for filing ITR 2.
Structure of ITR 2 Filing for AY 2026-27 Online
Part A: General Information
Schedule S: Details of Income from Salary
Schedule HP: Details of Income from House Property
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)
B. Long-term capital gain (LTCG) (Sub-items, 5, 6, 7 & 8 are not applicable for residents)
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 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.
Schedule VDA: Income from transfer of virtual digital assets
Schedule OS:
- Income from other sources: The information regarding income from other sources is enclosed.
Schedule CYLA:
Schedule BFLA:
Schedule CFL: Carry Forward of Loss
Schedule VI-A: Deductions under Chapter VI-A
Details under this title are enclosed with the following details of the taxpayer to furnish:
Schedule 80G: Details of donations entitled for deduction under section 80G
Schedule 80GGA: Details of donations for scientific research or rural development
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 80U: Details of deduction in case of a person with disability
Schedule AMT: Computation of Alternate Minimum Tax payable under section 115JC
Schedule AMTC: Computation of tax credit under section 115JD
Schedule SPI: Income of specified persons (spouse, minor child etc.) includable in income of the assessee as per section 64
Schedule SI: Income chargeable to tax at special rates
Schedule EI: Details of Exempt Income (Income not to be included in Total Income or not chargeable to tax)
Schedule PTI: Pass Through Income details from business trust or investment fund as per section 115U, 115UA and 115UB
Schedule FSI: Details of Income from outside India and tax relief
Schedule TR: Summary of tax relief claimed for taxes paid outside India
Schedule FA: Details of Foreign Assets and Income from any source outside India
Schedule 5A: Information regarding apportionment of income between spouses governed by Portuguese Civil Code
Schedule AL: Assets and Liabilities at the end of the year (applicable in a case where total income exceeds Rs. 1 Crore)
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
Part B-TTI: Computation of tax liability on total income
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
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
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