Income tax filing with ITR 2

This discussion clarifies the use of ITR 2 for income tax filing, specifically addressing situations involving long-term capital gains from equity mutual funds exceeding Rs. 1 lakh. It confirms that ITR 2 is indeed required in such cases. Furthermore, it explains that an individual can switch back to ITR 1 in a subsequent assessment year, provided their income sources for that year are limited to salary, house property, or other sources, and there are no further capital gains.