Online Income Tax Return (ITR) Form-2

The authorities have classified the eligibility criteria and sources of income to be considered for itr_2 as follows:

• Individuals of HUFs with income exceeding INR 50 Lacs
• Income from more than one housing property
• Profit or loss from the sale of property or an investment
• Income from agricultural which is to be more than INR 5,000
• Income from taxable capital gains
• Business or Profession incomes as a partner
• Income from means such as legal gambling, lottery, winning bets on race horses etc.
• ncome from foreign assets or investments

ITRs through Form itr_2 must be filed by July 31st and is valid for both Indian residents as well as Non Resident Indians (NRIs).

Individual or HUFs, however, earning any business or profession income under a proprietorship model are not eligible to file their ITR through Form ITR- 2