The use of the ITR-2 Form is applicable to the following means of income only. This form is available for both Individuals as well as Hindu Undivided Families who do not have any income from Business or Profession.
To check Income Tax slab Income Tax Slab for FY 2014-15 (AS Year 2015-16)
This Income Tax Form (ITR Form 2) can be used by Individuals or HUF whose Total Income includes,
- Income from Salary/Pension,
- Income from House Property,
- Income from Capital Gains (Short Term and Long Term),
- Income from Other Sources (including winning the Lottery, bets on Race Horses and other legal means of gambling),
- Foreign Assets.
This Income Tax Form (ITR Form 2) can be used by all individuals specified above, but cannot be used by Individuals earning Income from Business or Profession.
Who Cannot File On ITR-2?
- Any individual or HUF with income wholly or partially earned from Business or Profession.
- Individuals who are eligible to fill out the ITR-1 Form.
- Individuals who are partners in a Partnership Firm.[/dt_list]
Structure Of ITR 2 Form
ITR-2 is divided into:
- Part A: General Information
- Part B-TI: Computation of Total Income
- Part B-TTI: Computation of tax liability on total income
- Details to be filled if the return has been prepared by a Tax Return Preparer
- Schedule S: Details of income from salaries
- Schedule HP: Details of income from House Property
- Schedule CG:. Computation of income under Capital gains.
- Schedule OS: Computation of income under Income from other sources.
- Schedule CYLA: Statement of income after set off of current year’s losses
- Schedule BFLA: Statement of income after set off of the unabsorbed loss brought forward from earlier years.
- Schedule CFL: Statement of losses to be carried forward to future years.
- Schedule VIA: Statement of deductions (from total income) under Chapter VIA.
- Schedule 80G: Statement of donations entitled for deduction under section 80G.
- Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or association of persons to be included in the income of the assessee in Schedules-HP, CG and OS.
- Schedule SI: Statement of income which is chargeable to tax at special rates
- Schedule EI: Details of Exempt Income
- Schedule IT: Statement of payment of advance tax and tax on self-assessment.
- Schedule TDS1: Details of tax deducted at source on salary.
- Schedule TDS2: Statement of tax deducted at source on income other than salary.
- Schedule FSI: Statement of income accruing or arising outside India.
- Schedule TR: Details of taxes paid outside India.
- Schedule FA: Details of Foreign Assets.
- Schedule 5A: Statement of apportionment of income between spouses governed by the Portuguese Civil Code.
Difference Between ITR 2 And ITR 2A
ITR 2 is a much wider form as compared to ITR 2A. Anyone who can use ITR 2A can also use ITR 2.
The only difference between ITR 2 and ITR 2A is that ITR 2A cannot be used in case of Incomes arising from Capital Gains whereas ITR 2 can be used in case of Income from Capital Gains.
Manner of filing this Return Form
This Return Form can be filed with the Income-tax Department in any of the following ways,
- By furnishing the return in a paper form;
- By furnishing the return electronically under digital signature;
- By transmitting the data in the return electronically under electronic verification code;
- By transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V;
Where the Return Form is furnished in the manner mentioned at (iv), the assessee should print out two copies of Form ITR-V.
NOTE: One copy of ITR-V, duly signed by the assessee, has to be sent by post to -Post Bag No.1, Electronic City Office, Bengaluru-560100, Karnataka.
The other copy may be retained by the assessee for his record.
Online ITR Filing can be done from below website
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