The ITR Form 2 is a form that is for Individuals and Hindu Undivided Family (HUF) which receives income other than income from the category, that falls under “Profits and Gains from Business or Profession”, as well as Non Resident Indians to file their Tax Returns with the Income Tax Department of India.
PEOPLE WHO HAVE TO FILE ITR-2 FORM
Taxpayers or HUF’s who are not eligible to file ITR-1 (SAHAJ) because their incomes exceeds Rs 50 lakh in the financial year, have to file their returns using ITR-2 if they have income from the following sources.
1) Income from Salary / Pension
2) Income from Capital Gains
3) Income from foreign assets
4) Income from Business or Profession in the capacity of a partner (not as proprietor)
5) Income from other sources such as lottery, income earned from legal gambling on race horses
6) Income from more than one house (property)
7) Income from agriculture exceeds Rs.5000
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EXAMPLE OF ITR-2 FORM
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