banner_ad

Income tax filing with ITR 2

Efiling 303 views 2 replies

Hello ,

I have two questions about income tax filing, any direction would be helpful -

  1. If someone has more than Rs. 1 lakh long-term capital gains from the Sale of Equity mutual fund, does that person need to use ITR2 for tax filing?
  2. If someone uses ITR 2 for filing in the current assessment year, can he/she switch back to ITR 1 again in the next Assessment year provided there are no further long-term capital gains for next year?

Thanks in advance.

 

 

Replies (2)

1. Yes.

2. Any time, no problem.

Hi Yes, if there is income from capital gains please file ITR 2. Also ITR form depends on the heads of income for the respective previous year, so next year If the assessee does not have income other than Salary, IFHP OR IFOS he can submit ITR 1.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details