ITR-2 Form Filing

ITR-2 Form Filing

ITR-2 Form Filing- The Income Tax Department has notified various ITR forms for different Taxpayers who are based on the source of income of different taxpayers. This is done in order to create a simple tax structure in our country. Based on the source of income, a taxpayer chooses ITR form and file his/her return. The return is required to be filed every year subsequent to the year of income. Now the details of PAN and Aadhaar card is mandatorily required to be furnished with the department while filing the ITR return. There are various forms like ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 which is required to be filed by the different Taxpayer. However, it is to be noted that it is not mandatory to file the return by all taxpayers, this is only the certain individual having threshold income more than as prescribed under the Income Tax Act who are required to submit the Income-tax return. The return must be filed before the due date in order to avoid late fees and penalties. Further, aforesaid forms are designed for different taxpayers and they shall be processed by the income tax department accordingly. The Form ITR-2 designs for Individuals and HUFs (Hindu Undivided family) who do not have income from Business or from any profession.

Who is eligible to file ITR 2?

A taxpayer who are deriving their income from sources except for form “Profits and Gains from Business or Profession. Hence, one can say that the Taxpayer who is earning income from the following source is required to file ITR Form 2.

  • From Salary or from Pension
  • From any Foreign Assets
  • From House Property
  • From Capital Gains/loss which can be Short Term or Long Term
  • Income from Other Sources
  • From Agricultural if income exceeding Rs 5000
  • Resident not ordinarily resident and a Non-resident
  • All Directors of any listed and unlisted companies

Not Eligible for ITR Form 2

  • Any individual or HUF if they are having any source of income from Business and/or Profession
  • Individuals who are eligible for filing of ITR Form-1.

Modes of Filing Form ITR-2

We can submit ITR-2 Form either online or offline.


The Form ITR 2 can be filed through offline mode the same is to be submitted in prescribed Form however, the Income-tax department has allowed only below person to submit the offline Form

  1. A taxpayer having age 80 years or more any time during the previous year;
  2. Taxpayer or HUF having income not exceeding Rs 5 Lakhs also he has not claimed any refund of Income Tax.

The return shall be submitted in physical Form. The Income Tax Department after receiving the Form will issue an acknowledgment in this regard.


The Form ITR 2 can be furnished online as well, for this one need to login to the account which shall be prepared on the website of Income-tax department and shall be verified. Thereafter, an acknowledgment shall be send to the registered email id of the Taxpayer. The online return can be verified through Aadhaar OTP/EVC.

Every year Form ITR -2 has to be filed on or before 31st July of the subsequent year. Thereafter, the late fee shall be levied. Here is a tabular representation of late fees for easy understanding:

Filing Date If Income is Below 5,00,000/- If Income is Above 5,00,000/-
31st July 2019 0 0
Between 1st August to 31st Dec 2019 1,000/- 5,000/-
Between 1st Jan 2020 to 31st March 2020 1,000/- 10,000/-


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