Income tax return for 2 or ITR2 is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2013-14 includes:-
- Salary / Pension; or
- House Property; or
- Capital Gains; or
- Other Sources (including Winning from Lottery and from Race Horses). Further, in a case where income of another person like spouse, minor child, etc. is to be clubbed with the tax payer, this Return Form can be used where such income falls in any of the above categories.
ITR2 should not be used by an individual whose total income for the assessment year 2013-14 includes Income from Business or Profession.
No document (including TDS certificate) should be attached to ITR2 while uploading your income tax return or while sending the acknowledgement to CPC, Bangalore office. All such documents enclosed with ITR2 or ITRV Form will be detached and returned to the person filing the return.
ITR2 Form can be filed with the IT Department in any of the following ways, –
- by furnishing the ITR2 return in a paper form;
- by furnishing electronically with digital signature;
- by transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V;
- by furnishing a Bar-coded return.
A resident tax payer having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India, shall fill out schedule FA and furnish the return in the manner provided at either (ii) or (iii) above.
From the assessment year 2013-14 onwards all the tax payers having total income more than 5 lakh rupees are required to furnish the return in the manner provided at point number 2 or 3 above. Also a tax payer to whom Schedule FSI and Schedule TR apply has to furnish the return in the manner provided at (ii) or (iii) above.
Where the ITR2 Return Form is furnished in the manner mentioned at (3), the tax payer should take a print out of Form ITR-V. One copy of ITR-V, duly signed by him or her, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bangalore–560100 (Karnataka). The other copy may be retained by the tax payer for his or her record.
Only one copy of ITR2 Return Form is required to be submitted. Where the Return Form is furnished in the manner mentioned at (i) or at (iv) above, the acknowledgement should be duly filled in ITR-V.