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ITR-2 Filing Services
ITR-2 is the return form prescribed under the Income-tax Act, 1961 read with the Income-tax Rules, 1962 and annual CBDT notifications — designed for Individuals and Hindu Undivided Families (HUFs) whose income profile is too wide or too complex for the simpler ITR-1 (Sahaj), yet who do not earn any income under the head "Profits and Gains of Business or Profession". In practical terms, ITR-2 is the workhorse return for middle-to-high-income salaried professionals, senior executives, directors, holders of unlisted shares, NRIs, RNORs, taxpayers with multiple house properties, significant capital gains across listed equity / mutual funds / real estate / crypto, foreign assets, foreign income with DTAA relief, agricultural income above Rs. 5,000, and anyone whose total income exceeds Rs. 50 lakh — in other words, the return that covers almost every serious personal-tax situation short of running a business.
ITR-2 is materially more schedule-heavy than ITR-1. It includes Schedule S (Salary with detailed break-up of Section 17(1) / 17(2) / 17(3) components), Schedule HP for house property income (multiple properties, let-out, deemed let-out, self-occupied, co-owner), Schedule CG for capital gains (separating Section 111A STCG, Section 112A LTCG, real estate gains, unlisted shares, and VDA / crypto under Section 115BBH), Schedule OS for other sources including dividends and family pension, Schedule FSI / TR / FA for foreign source income, foreign tax relief under Sections 90 / 91, and foreign asset disclosure, Schedule 112A / 115AD / 115AD(1)(b)(iii) for scrip-wise LTCG reporting, Schedule AL for asset-liability statement where total income exceeds Rs. 50 lakh, Schedule VDA for crypto transactions under Section 115BBH, and Schedule BFLA / CFL for brought-forward and carry-forward losses. The form also captures the exercise of option for or against the new regime under Section 115BAC where applicable, along with detailed disclosures required for directors and unlisted share holders.
Our ITR-2 Filing Services cover the full lifecycle — from eligibility confirmation (ITR-1 vs ITR-2 vs ITR-3), old-vs-new regime comparison under Section 115BAC, salary and perquisite computation, HRA and Section 10(14) exemption optimisation, ESOP / RSU / Sweat Equity taxation under Section 17(2)(vi), scrip-wise capital gains workings after the Finance (No. 2) Act, 2024 changes (12.5% LTCG / 20% STCG under Section 111A with revised holding periods), Section 54 / 54F / 54EC exemption planning, Schedule FA and DTAA relief for NRIs and RORs with foreign assets, Form 67 filing for foreign tax credit, Schedule AL preparation, computation of advance tax under Sections 208 / 211, reconciliation with Form 16 / 26AS / AIS / TIS, e-verification, Section 143(1) intimation review, rectification, and revised / belated / ITR-U filings — so that every ITR-2 is filed accurately, optimised for tax, and fully defensible under scrutiny for years to come.
No Business Income
Individual / HUF only
Multi-Property
More than one house
Capital Gains
Equity / property / crypto
Schedule FA
Foreign asset disclosure
Laws & Frameworks We Work Under
Income-tax Act, 1961
Sec 139(1) / (4) / (5) / (8A)
Sec 115BAC – Regime
Sec 111A / 112 / 112A
Sec 115BBH – VDA
Sec 54 / 54F / 54EC
Sec 6 – Residency
Sec 90 / 91 / Form 67
Main Taxpayer Categories Covered by ITR-2
High-Income Salary
Senior Executives & Directors
Salaried individuals above Rs. 50 lakh and company directors (listed / unlisted).
- Salary above Rs. 50 lakh
- Company directors
- Perquisites disclosure
- Schedule AL (assets)
- Sitting fees & commission
- Multi-employer cases
Capital Gains
Equity, MF & Property Sellers
Significant capital gains from listed equity, mutual funds, real estate, and unlisted shares.
- Section 111A STCG
- Section 112A LTCG
- Property sale gains
- Unlisted share gains
- Section 54 / 54F / 54EC
- Scrip-wise reporting
ESOP / RSU
ESOP / RSU / Sweat Equity
Taxation of ESOP perquisite under Section 17(2)(vi), RSU vesting, and cross-border stock plans.
- Perquisite at vesting
- Capital gains at sale
- Foreign parent stock
- Double-counting risk
- Schedule FA disclosure
- DTAA relief
NRI / RNOR
NRIs & Returning Residents
Non-resident ITR-2 with Indian sourced income, DTAA relief, and Schedule FA for ROR.
- Residential status u/s 6
- Indian-sourced income
- DTAA relief u/s 90 / 91
- Form 67 FTC
- NRE / NRO interest
- Schedule FA (ROR)
Property
Multi-Property Owners
Owners of more than one house property with let-out, self-occupied, and deemed let-out analysis.
- Multiple properties
- Let-out income
- Deemed let-out
- Section 24(b) interest
- Co-owner apportionment
- Rental TDS u/s 194-I / IB
Crypto / VDA
Crypto & VDA Holders
Income from transfer of Virtual Digital Assets taxable at 30% flat under Section 115BBH.
- Schedule VDA
- 30% flat tax
- No loss set-off
- Section 194S TDS 1%
- Scrip-wise disclosure
- Exchange statements
Key ITR-2 Schedules & Concepts at a Glance
Schedule S
Salary Break-Up
Detailed salary schedule covering Section 17(1) basic + allowances, 17(2) perquisites, 17(3) profits.
17(1)
17(2) / (3)
Schedule HP
Multi-Property
Each property separately — gross rent, municipal taxes, 30% standard deduction, interest u/s 24(b).
Let-Out
Self-Occupied
Schedule CG
Capital Gains
STCG / LTCG computation with asset-type split — equity, property, unlisted, debt MF, and VDA.
111A / 112
112A
Schedule 112A
Scrip-Wise LTCG
Scrip-level reporting of Section 112A LTCG on listed equity / equity MF with grandfathering.
12.5%
Rs. 1.25L
Schedule FA
Foreign Assets
Mandatory disclosure of foreign bank accounts, shares, immovable property, and trust interest.
ROR
BM Act
Schedule AL
Asset-Liability
Mandatory where total income exceeds Rs. 50 lakh — disclosure of cost of specified assets.
> Rs. 50L
Cost Basis
Schedule VDA
Crypto / VDA
Transaction-wise VDA reporting; gains taxed at 30% under Section 115BBH with 1% TDS u/s 194S.
30% Flat
No Set-Off
Schedule FSI / TR
Foreign Income & Relief
Foreign-sourced income with DTAA relief under Section 90 / 91 claimed via Form 67.
DTAA
Form 67
What Our ITR-2 Filing Engagement Covers
Advisory
Eligibility & Tax Planning
Confirming ITR-2 fit, choosing the right regime, and optimising tax on salary, gains, and foreign income.
- ITR-1 / 2 / 3 selection
- Residency u/s 6
- Old vs new regime
- Section 54 / 54F / 54EC
- Advance tax planning
- ESOP / RSU strategy
Preparation
Schedule-Wise Drafting
Accurate drafting of every schedule — Salary, HP, CG, OS, 112A, VDA, FA, AL, FSI / TR.
- Form 16 / 26AS / AIS match
- Scrip-wise CG
- Foreign asset listing
- DTAA credit
- Brought-fwd loss
- Schedule AL
Post-Filing
Verification & Notice Support
E-verification, intimation review, rectification, and response to scrutiny notices.
- E-verification
- Sec 143(1) review
- Rectification u/s 154
- Revised / belated / ITR-U
- Sec 142(1) / 143(2)
- Faceless representation
Our ITR-2 Filing Services
High-Income Salary ITR-2
Filing for salaried above Rs. 50 lakh with Schedule AL, perquisites, and HRA / LTA optimisation.
Director & Unlisted Shares
Mandatory ITR-2 for company directors and holders of unlisted equity shares with disclosure schedules.
Capital Gains ITR-2
Scrip-wise LTCG / STCG, property gains, and Section 54 / 54F / 54EC exemption planning.
ESOP / RSU Filing
Taxation of ESOP / RSU at vesting and sale, including cross-border stock plans with DTAA relief.
NRI & RNOR Returns
Non-resident ITR-2 with residency determination, DTAA relief, and Form 67 FTC claim.
Multi-Property ITR-2
Multiple house properties with let-out, deemed let-out, co-owner apportionment, and interest claim.
Crypto / VDA ITR-2
Schedule VDA preparation with 30% Section 115BBH tax, 194S TDS credit, and exchange reconciliation.
Revised / ITR-U & Notice Support
Revised / belated / updated returns and full representation for 143(1) / 142(1) / 143(2) notices.
When You Need Expert ITR-2 Filing Support
Total Income Above Rs. 50 Lakh
Income crosses Rs. 50 lakh — Schedule AL and detailed disclosures become mandatory.
Sold Property / Equity
Sale of house, land, equity, or unlisted shares needing capital gains schedule and exemption planning.
ESOP / RSU Vested / Sold
ESOP / RSU vesting and subsequent sale with dual taxation (perquisite + capital gains).
NRI / RNOR / Returning Resident
Change of residential status or Indian-sourced income as a non-resident requiring DTAA analysis.
Foreign Assets / Accounts
Mandatory Schedule FA disclosure for ROR with foreign bank, shares, or immovable property.
Director / Unlisted Shares
Being a director or holding unlisted equity shares automatically disqualifies ITR-1.
Crypto / VDA Trades
Any transfer of Virtual Digital Asset — profit or loss — requires Schedule VDA filing.
Agriculture Above Rs. 5,000
Agricultural income above Rs. 5,000 triggers ITR-2 with rate computation disclosure.
Information & Documents Needed for ITR-2
Identity, Salary & Tax Credits
- PAN / Aadhaar
- Form 16 (all employers)
- Form 16A / 16B / 16C
- Form 26AS
- AIS & TIS reports
- Bank account details
- Perquisite working (ESOP)
Capital Gains & Property
- Broker P&L / CG statements
- Scrip-wise buy / sell data
- Mutual fund CAS
- Property sale deed
- Property purchase deed
- Registration / stamp duty
- 54EC bonds / 54F investment
Foreign, VDA & Others
- Foreign bank statements
- Foreign share holdings
- Foreign property deed
- DTAA tax paid proof
- Crypto exchange report
- Home loan certificate
- 80C / 80D / 80G proofs
Our End-to-End ITR-2 Filing Approach
1
Scoping
Form selection, residency check, regime decision, and income-head mapping.
2
Data & Reconciliation
Form 16 / 26AS / AIS match, scrip-wise CG, ESOP workings, and foreign asset listing.
3
Schedule Drafting
Schedule-wise drafting — Salary, HP, CG, 112A, VDA, OS, FA, AL, FSI / TR.
4
Filing & Verification
Self-assessment tax payment, portal filing, and e-verification within 30 days.
5
Post-Filing Support
143(1) intimation, refund tracking, rectification, and notice representation.
Why Choose Us for ITR-2 Filing
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CA-reviewed every return
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Scrip-wise capital gains expertise
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ESOP / RSU specialists
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NRI & DTAA expertise
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Schedule FA & BM Act compliance
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Section 54 / 54F / 54EC planning
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Crypto / VDA discipline
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Strong notice defence
FAQs on ITR-2 Filing
Who is required to file ITR-2?
ITR-2 is applicable to Individuals and Hindu Undivided Families (HUFs) who do not have any income from "Profits and Gains of Business or Profession" and whose income profile is outside the narrow envelope of ITR-1. Specifically, ITR-2 must be filed by taxpayers with total income above Rs. 50 lakh, income from more than one house property, capital gains from equity / mutual funds / property / unlisted shares / crypto / VDA (beyond the limited scope permitted in ITR-1), agricultural income above Rs. 5,000, foreign income or foreign assets requiring Schedule FA, directors of any company (listed or unlisted), holders of unlisted equity shares at any time during the year, NRIs and RNORs, taxpayers with income from lottery / race winnings, and any taxpayer carrying forward or setting off losses under heads other than business. Any income from business or profession shifts the filing to ITR-3.
What is the difference between ITR-1 and ITR-2?
ITR-1 (Sahaj) is the simplified return available only to ordinarily-resident individuals with total income up to Rs. 50 lakh, earning income from salary / pension, one house property, and limited other sources (with a narrow window for Section 112A LTCG as recently rationalised by CBDT). ITR-2 is the broader return for Individuals and HUFs across all income levels, multi-property owners, full capital gains, foreign income and assets, NRIs, RNORs, directors, and holders of unlisted shares — essentially anyone whose profile exceeds ITR-1's narrow eligibility. The two differ materially in the schedules they carry — ITR-2 has Schedule CG, Schedule FA, Schedule AL, Schedule FSI / TR, Schedule 112A / 115AD, Schedule VDA, and Schedule BFLA / CFL, while ITR-1 has a very limited set of disclosures. Filing the wrong form invites a Section 139(9) defective return notice.
How are capital gains reported in ITR-2 after the Finance (No. 2) Act, 2024 changes?
Post-Finance Act 2024, effective from 23 July 2024 and applicable to FY 2024-25 onwards, capital gains rates have been materially rationalised. Listed equity and equity-oriented mutual funds: LTCG above Rs. 1.25 lakh under Section 112A is taxed at 12.5%; STCG under Section 111A is taxed at 20%. For other assets (real estate, unlisted shares, debt MFs, gold): LTCG is generally 12.5% without indexation (with a grandfathered indexation option for real estate acquired before 23 July 2024 where it works out better for resident individuals / HUFs); STCG is taxed at slab rates. Holding periods have been unified at 12 months for listed securities and 24 months for other assets. Each asset is reported scrip-wise in Schedule CG / Schedule 112A, with broker P&L and mutual fund CAS serving as primary source documents. Correct date-of-acquisition and indexed cost / grandfathered cost are critical.
How is ESOP / RSU income reported in ITR-2?
ESOP / RSU taxation has a two-stage framework under the Income-tax Act. Stage one — at the time of allotment (exercise in case of ESOP, or vesting in case of RSU), the difference between the fair market value on the exercise / vesting date and the exercise price is treated as a perquisite taxable under the head "Salaries" under Section 17(2)(vi), and reflected in Form 16. Stage two — at the time of subsequent sale of the shares, the difference between the sale price and the FMV on the exercise / vesting date (which becomes the cost base) is taxed as capital gains — short-term or long-term depending on the holding period. Listed shares sold on Indian exchanges attract Section 111A / 112A treatment; foreign parent stock attracts non-Section-112A rates. Foreign parent shares also trigger Schedule FA disclosure. DTAA relief under Section 90 for taxes withheld abroad is claimed via Form 67.
What is Schedule FA and who is required to disclose foreign assets?
Schedule FA of ITR-2 mandates disclosure of assets held outside India by a Resident and Ordinarily Resident (ROR) during the financial year. This includes foreign bank accounts (with peak balance), foreign equity and debt investments, foreign immovable property, foreign trusts as settlor / beneficiary, custodial accounts, and financial interests in any entity abroad. Schedule FA is not required for non-residents or RNORs. The disclosure is strict-liability — non-disclosure or inaccurate disclosure can trigger severe penalties under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, including prosecution. Even where no taxable income arises from the asset, disclosure remains mandatory. Schedule FA is therefore one of the most carefully-audited parts of the ITR for RORs with any foreign connection — ESOP holders of MNC parent companies, former NRIs, and families with overseas investments.
How are crypto / Virtual Digital Assets taxed in ITR-2?
Under Section 115BBH of the Income-tax Act, income from the transfer of any Virtual Digital Asset (VDA) — cryptocurrencies, NFTs, and similar notified assets — is taxed at a flat rate of 30% (plus surcharge and cess). No deduction in respect of any expenditure (other than the cost of acquisition) is allowed while computing such income, and loss from transfer of one VDA cannot be set off against income from transfer of another VDA or any other head. In addition, Section 194S requires 1% TDS on consideration paid for transfer of VDAs above notified thresholds. ITR-2 reports VDAs in the dedicated Schedule VDA — transaction-wise, with date of acquisition, date of sale, sale consideration, cost of acquisition, and resultant gain. Reconciliation with exchange-issued statements and AIS is essential, as VDA transactions are increasingly tracked at source.
When is Schedule AL required in ITR-2?
Schedule AL (Asset-Liability Statement) in ITR-2 becomes mandatory where the taxpayer's total income for the year exceeds Rs. 50 lakh. It requires disclosure of specified assets and corresponding liabilities at cost — immovable assets (land and building), movable assets (jewellery, archaeological collections, vehicles, yachts, aircraft), financial assets (bank balances, shares, insurance policies, loans given), and liabilities attributable to these assets. Schedule AL is a balance-sheet-like disclosure at taxpayer level and serves as a statutory record of wealth at a given point in time, often used by the department in scrutiny or reassessment proceedings to corroborate income with wealth accretion. The schedule does not in itself levy tax, but inaccurate or omitted disclosures can be used adversely in Section 143(2) / 148 proceedings — so care, consistency with prior years, and maintaining supporting cost records are essential.
What is the due date for filing ITR-2 and what are the late-filing consequences?
For Individuals and HUFs filing ITR-2 who are not subject to tax audit under Section 44AB, the due date under Section 139(1) is 31 July of the assessment year — for FY 2025-26, this is 31 July 2026 (subject to CBDT extensions). If the original deadline is missed, a belated return can be filed under Section 139(4) up to 31 December of the same assessment year, subject to late fee of Rs. 1,000 (income up to Rs. 5 lakh) or Rs. 5,000 (income above Rs. 5 lakh) under Section 234F, plus interest under Sections 234A / 234B / 234C. A revised return under Section 139(5) can also be filed until 31 December. After this window, only Section 139(8A) ITR-U is available — and only for declaring additional income, not for claiming refund or loss. Capital gains and foreign asset filings are time-sensitive for Schedule FA and Form 67; late filings can prejudice treaty relief claims and attract Black Money Act exposure.
ITR-2 Done Right — Across Salary, Gains, Property, Crypto & Foreign Assets
Partner with our CAs for end-to-end ITR-2 Filing Services — regime planning, scrip-wise gains, ESOP / RSU, NRI / DTAA, Schedule FA / AL / VDA, and full post-filing support — under one roof.
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