ITR-2 Return Filing Services in Delhi

What is ITR-2 Return?

The ITR-2 Return form is specifically designed for individuals and Hindu Undivided Families (HUFs) who do not have income from a business or profession. It is applicable if you earn income from salary, multiple house properties, capital gains (short or long term), or foreign assets/income.

Filing ITR-2 can be complex due to the detailed reporting requirements for capital gains and foreign assets. At Taxcrafted Solutions, we specialize in managing these complexities, ensuring accurate calculations and compliance with all tax laws to avoid notices and penalties.

Who Can File?

Individuals & HUFs (No Business Income)
Income from Capital Gains
Income from >1 House Property
Foreign Income/Assets
Director in a Company

Who Cannot File?

Income from Business or Profession
Those eligible for ITR-1 (Sahaj)
Partnership Firms
Companies

Documents Required

Ensure a smooth filing process with the right documents.

Basic & Income

PAN & Aadhaar Card
Form 16 (Salary)
Bank Statements
TDS Certificates (16A/16B/16C)

Capital Gains

Stock Trading Statements
Mutual Fund Statements
Property Sale Deed
Purchase Deed/Improvement Cost

Others

Foreign Asset Details
Rental Income Proof
Home Loan Statement
80C/80D Investment Proofs

Frequently Asked Questions

Common queries about ITR-2 Filing.

Who is eligible to file ITR-2?

ITR-2 is for Individuals and HUFs not having income from "Profit and Gains of Business or Profession". It covers income from Capital Gains (Sale of Property/Shares), more than one House Property, Foreign Assets/Income, and holding Directorship in a company.

Do I need to file ITR-2 if I sold shares or mutual funds?

Yes, if you have realized Capital Gains (Short Term or Long Term) from the sale of equity shares, mutual funds, or any other asset, you must file ITR-2. ITR-1 is not applicable in this case.

Is ITR-2 applicable for NRIs?

Yes, Non-Resident Indians (NRIs) generally file ITR-2 to report their taxable income earned in India, as they are often ineligible for ITR-1 (Sahaj).

Can a salaried person file ITR-2?

Yes, a salaried person can (and must) file ITR-2 if their total income exceeds ₹50 Lakhs, they have capital gains, they hold unlisted equity shares, or they are a Director in a company, even if they don't have business income.

Do I need to declare foreign assets in ITR-2?

Yes, if you hold any asset (including financial interest in any entity) located outside India or have signing authority in any account located outside India, it is mandatory to disclose these details in the Foreign Assets (FA) schedule of ITR-2.