Every taxpayer in India is required to file ITR. Income Tax department has to make process easier and convenient introduced various forms for different taxpayers to make process easier and convenient.
The ITR-2 is filed by the individuals or HUFs not having income from profit or gains of business or profession and to whom ITR-1 is not applicable. It includes incomefrom capital gains, foreign income or any agricultural income more than Rs 5,000.
ITR 2 Form is an Important form income tax return form that is used by the Indian Citizens as well as the NRIs to file the return with the Income-tax department of India. The taxpayers who are not eligible to file ITR 1 can file ITR 1 to file the income tax returns. ITR 2 can be filed by the individuals and Hindu Undivided Families who have their income for the financial year through salary, pension, more than one property, income from capital gains, income from foreign assets, business or income from a profession as a partner and other sources that include lottery, Racehorses, legal gambling, etc.
ITR Form 2 is for Individuals and HUF receiving income other than income from “Profits and Gains from Business or Profession”. Thus persons having income from the following sources are eligible to file Form ITR 2:
You can submit your ITR-1 Form either online or offline. Filing tax online is way much easier now then ever, A taxpayer just needs to upload his total taxable income after claiming eligible deduction and after that a form needs to be filed.
What documents are required to file ITR 2 returns?
With our experienced and skilled personnel, We at UpriseLegal makes process of ITR very smooth and helps you in each and every step at a very affordable prices. You don’t have to worry on how to file your ITR, as UpriseLegal is there to provide all the assistance that you need. We follow law to the core and uses our knowledge to avoid any hassles in your business so that you can rise and grow! You may get in touch with our compliance manager on 9173512402 or email us at [email protected] for free consultation.