ITR 2 Filling

Who is eligible to file ITR-2?
ITR-2 can be filed by individuals or HUFs who:

• Are not eligible to file ITR-1 (Sahaj)
• Do not have income from profit and gains of business or profession and also do not have income from profits and gains of business or profession in the nature of:
  • interest
  • salary
  • bonus
  • commission or remuneration, by whatever name called, due to, or received by him from a partnership firm
• Have the income of another person like spouse, minor child, etc., to be clubbed with their income – if income to be clubbed falls in any of the above categories.

What documents do I need to file ITR-2? 

• If you have salary income, you need Form 16 issued by your employer.
• If you have earned interest on fixed deposits or saving bank account and TDS has been deducted on the same, you need TDS certificates i.e., Form 16A issued by Deductors.
• You will need Form 26AS to verify TDS on salary as well as TDS other than salary. Form 26AS could be downloaded from the e-Filing portal.
• If you are living in rented premises, you need rent paid receipts for calculation of HRA (in case you have not submitted the same to your employer).
• If you have any capital gains transactions in shares, you will need a summary or profit / loss statement of capital gain transactions of shares or securities during a year, if any, for computation of capital gain.
• You will need your bank passbook, Fixed Deposit Receipts (FDRs) to calculate amount of interest income.
• If you have received rent from your rented house property, then you will need your tenant / local tax payment / interest on borrowed capital details (if any) to calculate income from house property.
• In case you want to claim any loss incurred during the current year, then you will need the relevant documents exhibiting the loss.
• In case you wish to claim previous year’s loss, you will need a copy of ITR-V pertaining to the previous year, disclosing the said loss.
• You will also need documents or proofs for claiming tax saving deductions u/s 80C, 80D, 80G, 80GG such as life and health insurance receipts, donation receipts, rent receipts, receipts for tuition fees etc., if the same were not considered in your Form 16.