Income Tax Return  2

Individuals and Hindu Undivided Families who have their Income for the Financial Year through Salary or Pension, more than One House Property, Income from Capital Gains, Income from foreign assets/Income, Income from business or profession as a partner (not proprietor) and other sources including lottery, racehorses, legal gambling are eligible to file their IT Return using ITR-2. Individuals who are not eligible to file using ITR-1, because of their income exceeding ₹ 50 Lakhs are also eligible to file ITR-2.

Eligibility To File ITR 2

ITR 2 is filed by the taxpayers whose income is from below- mentioned sources:

Taxpayer having income exceeding Rs. 50 Lakhs from salary ,profession etc.

Taxpayer Having foreign assets / income.

Taxpayer Having agricultural income in excess of Rs. 5,000.

Taxpayer having income under capital gain.

Taxpayer Having income from business or profession as a partner.

Taxpayer Having more than one house property.

Taxpayers having DIN or owing private limited company shares.

In eligibility To File ITR-2

ITR-2 cannot be filed by the taxpayers whose income is up to Rs 50 lakhs from salary.

ITR 2 cannot be filed by LLP.

ITR 2cannot be filled by company, society, trust, partnership etc.

ITR 2 cannot be filled by proprietor having business or professional income.