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.
Salaried individuals above Rs. 50 lakh and company directors (listed / unlisted).
Significant capital gains from listed equity, mutual funds, real estate, and unlisted shares.
Taxation of ESOP perquisite under Section 17(2)(vi), RSU vesting, and cross-border stock plans.
Non-resident ITR-2 with Indian sourced income, DTAA relief, and Schedule FA for ROR.
Owners of more than one house property with let-out, self-occupied, and deemed let-out analysis.
Income from transfer of Virtual Digital Assets taxable at 30% flat under Section 115BBH.
Detailed salary schedule covering Section 17(1) basic + allowances, 17(2) perquisites, 17(3) profits.
Each property separately — gross rent, municipal taxes, 30% standard deduction, interest u/s 24(b).
STCG / LTCG computation with asset-type split — equity, property, unlisted, debt MF, and VDA.
Scrip-level reporting of Section 112A LTCG on listed equity / equity MF with grandfathering.
Mandatory disclosure of foreign bank accounts, shares, immovable property, and trust interest.
Mandatory where total income exceeds Rs. 50 lakh — disclosure of cost of specified assets.
Transaction-wise VDA reporting; gains taxed at 30% under Section 115BBH with 1% TDS u/s 194S.
Foreign-sourced income with DTAA relief under Section 90 / 91 claimed via Form 67.
Confirming ITR-2 fit, choosing the right regime, and optimising tax on salary, gains, and foreign income.
Accurate drafting of every schedule — Salary, HP, CG, OS, 112A, VDA, FA, AL, FSI / TR.
E-verification, intimation review, rectification, and response to scrutiny notices.
Filing for salaried above Rs. 50 lakh with Schedule AL, perquisites, and HRA / LTA optimisation.
Mandatory ITR-2 for company directors and holders of unlisted equity shares with disclosure schedules.
Scrip-wise LTCG / STCG, property gains, and Section 54 / 54F / 54EC exemption planning.
Taxation of ESOP / RSU at vesting and sale, including cross-border stock plans with DTAA relief.
Non-resident ITR-2 with residency determination, DTAA relief, and Form 67 FTC claim.
Multiple house properties with let-out, deemed let-out, co-owner apportionment, and interest claim.
Schedule VDA preparation with 30% Section 115BBH tax, 194S TDS credit, and exchange reconciliation.
Revised / belated / updated returns and full representation for 143(1) / 142(1) / 143(2) notices.
Income crosses Rs. 50 lakh — Schedule AL and detailed disclosures become mandatory.
Sale of house, land, equity, or unlisted shares needing capital gains schedule and exemption planning.
ESOP / RSU vesting and subsequent sale with dual taxation (perquisite + capital gains).
Change of residential status or Indian-sourced income as a non-resident requiring DTAA analysis.
Mandatory Schedule FA disclosure for ROR with foreign bank, shares, or immovable property.
Being a director or holding unlisted equity shares automatically disqualifies ITR-1.
Any transfer of Virtual Digital Asset — profit or loss — requires Schedule VDA filing.
Agricultural income above Rs. 5,000 triggers ITR-2 with rate computation disclosure.
Form selection, residency check, regime decision, and income-head mapping.
Form 16 / 26AS / AIS match, scrip-wise CG, ESOP workings, and foreign asset listing.
Schedule-wise drafting — Salary, HP, CG, 112A, VDA, OS, FA, AL, FSI / TR.
Self-assessment tax payment, portal filing, and e-verification within 30 days.
143(1) intimation, refund tracking, rectification, and notice representation.
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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