ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • ZNAA'22
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • IPO: 11 public offers raise Rs 33,000 cr between April-June FY23; 17 more in pipeline
  • Rakesh Jhunjhunwala-backed Akasa Air first commercial flight flagged off by Civil Aviation Minister Jyotiraditya Scindia on this
  • IRDAI to rename grievance redressal mechanism; complaints can be filed in regional languages soon
  • Market next week: Global cues, macro numbers, last batch of earnings to dictate D-Street in holiday-truncated week: Experts
  • Eight of top-10 valued firms add Rs 98,235 cr in m-cap; Infosys, TCS lead gainers
Read in App
Business News » Personal Finance News

Income Tax Return (ITR) filing: ITR 2 form - Details of who can, who cannot and how to file this?

ITR form 2 is meant for those taxpayers who are individuals and Hindu Undivided Family (HUF) not carrying business or profession under any proprietorship.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Income Tax Return (ITR) filing: ITR 2 form - Details of who can, who cannot and how to file this?
ITR form 2 is meant for those taxpayers who are individuals and Hindu Undivided Family. Photo:Pixabay

ITR Filing: The Income Tax Department has now opened the window for taxpayers, to file their ITR form 2 for the assessment year 2019-20. The department has already made filing of ITR form 1 and 4 available. Other forms such as ITR 3, ITR5, ITR6 and ITR7 will be allowed shortly. ITR form 2 is meant for those taxpayers who are individuals and Hindu Undivided Family (HUF) not carrying business or profession under any proprietorship. However, while filing ITR2 form, it needs to be noted that, the department has made various changes in this form. Hence, it is very important that you are aware of it. Let’s find out!

Changes!

Individuals and Hindu Undivided Families (HUFs) who do not have income from profits and gains from business or profession can file their returns with ITR-2 form. 

As per the newly notified ITR-2 form, taxpayers will be required to specify their residential status of the FY 2018-19. An individual can be considered as a resident, ordinary resident or non-resident in the financial year for income tax purposes. Detailed information regarding days present in India must be provided to satisfy residential status.

Additionally, in the column for 80G the amount must be segregated into cash and other modes of contribution.

Who can file ITR form 2?

Form ITR – 2 can be used by an individual and Hindu Undivided Family who is not eligible to file ITR-1 Sahaj and not having income from “profit and gains of business or profession” and also not having 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.

Further, in case where the income of another person like spouse, minor child, etc., is to be clubbed with the income of the taxpayer, this Return Form can be used if income to be clubbed falls in any of the above categories.

Who cannot file ITR form 2?

Form ITR - 2 cannot be used by an individual and HUF whose total income for the year includes income from profit and gains from business or profession and also having income in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from partnership firm. 

Here’s how you can file this form!

One can file ITR offline and online. However, you can eliminate the need to knock on the doors of Chartered Account or experts, the department makes it very easier and flexible their via e-filing portal.

To Upload ITR , follow the below steps:

Step 1 - Download the ITR preparation software for the relevant assessment year to your PC / Laptop from the "Downloads" page.

Step 2 - Prepare the Return using the downloaded Software.

Step 3 - Login to e-Filing website with User ID, Password, Date of Birth /Date of Incorporation and enter the Captcha code.

Step 4 - Go to e-File and click on "Upload Return".

Step 5 - Select the appropriate ITR, Assessment Year and XML file previously saved in Step 2 (using browse button).

Step 6 - Upload Digital Signature Certificate (DSC), if applicable.

Step 7 - Click on "Submit" button.

Step 8 - On successful submission, ITR-V would be displayed (if DSC is not used). Click on the link and download the ITR-V. ITR-V will also be sent to the registered email. If ITR is uploaded with DSC, the Return Filing process is complete. 

OR 

The return is not uploaded with DSC, the ITR-V Form should be printed, signed and submitted to CPC within 120 days from the date of e-Filing. The return will be processed only upon receipt of signed ITR-V. Please check your emails/SMS for reminders on .non-receipt of ITR-V.

To Prepare and Submit ITR Online, follow the below steps :

Step 1 - Login to e-Filing website with User ID, Password, Date of Birth /Date of Incorporation and Captcha.

Step 2 - Go to e-File and click on "Prepare and Submit ITR Online".

Step 3 - Select the Income Tax Return Form ITR 1/ITR 4S and the Assessment Year.

Step 4 - Fill in the details and click the "Submit" button.

Step 5 - Upload Digital Signature Certificate (DSC), if applicable.

Step 6 - Click on "Submit" button.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Income Tax ReturnITR Filing
Written By: ZeeBiz WebTeam
Updated: Mon, May 06, 2019
11:54 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Income Tax Return Filing 2022: New record of ITRs filed on a single day - All details here from CBDT Income Tax Return Filing 2022: New record of ITRs filed on a single day - All details here from CBDT
ITR filing: Over 3 crore Income Tax Returns filed so far; deadline ends this week ITR filing: Over 3 crore Income Tax Returns filed so far; deadline ends this week
ITR filing last date is holiday for banks. Key things taxpayers should know ITR filing last date is holiday for banks. Key things taxpayers should know
ITR filing last date: Over 50% taxpayers yet to file Income Tax Returns, finds survey ITR filing last date: Over 50% taxpayers yet to file Income Tax Returns, finds survey
 ITR filing last date: No plan to extend deadline, says Revenue Secretary ITR filing last date: No plan to extend deadline, says Revenue Secretary

LATEST NEWS

Dividend stocks, bonus share, stock split update: These 20 stocks will remain in focus this week | Full List

India poised to achieve $5 trillion economy dream through ‘Atmanirbhar Bharat’ strategy, says expert

Opening Bell: Nifty above 17,400, Sensex gains 30 points amid muted global cues; PSU Bank declines most

Tata Motors to buy Ford India's Sanand factory for Rs 726 crore

Anil Singhvi's strategy on Aug 8: Support zone on Nifty is 17300-17350, Bank Nifty is 38050-38225

Rakesh Jhunjhunwala-backed Akasa Air first commercial flight flagged off by Civil Aviation Minister Jyotiraditya Scindia on this route

At NITI meet, PM Modi gives mantra of 3Ts, modernising agriculture to Chief Ministers in big push for 'Atmanirbhar Bharat'

Majority of employees want hybrid work, not work from office - An insight

Q1 results: IOC, HPCL, BPCL post Rs 18,480 cr loss in quarter 1 on holding petrol, diesel prices

Tejas: Why home-made light combat aircraft are in demand? These countries show interest

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV