The ITR-2 form is for individuals and HUFs in India who do not have income from business or profession, but have income from salary, house property, capital gains, or other sources. This article details the applicability, key features, and recent updates for AY 2024-25, including new reporting requirements for capital gains, foreign assets, and virtual digital assets. It also introduces the new user-friendly Excel utility for offline filing and outlines the process, required documents, and important deadlines.
ITR-2 is an Indian Income Tax Return Form used by individual taxpayers and Hindu Undivided Families (HUFs) who do not have income from Business or Profession (PGBP).
What is ITR?
ITR stands for Income Tax Return. It is a form used by the taxpayers to report their income, claim deductions, and
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