Glossary
ITR-2
ITR-2
Income Tax Return Form 2 ITR-2 is the income tax return form for individuals and HUFs not earning income from business or profession. It covers income from salary, multiple house properties, capital gains, foreign assets, and other sources, providing a comprehensive declaration for non-business taxpayers.
Where it appears in practice
It matters when your income profile exceeds the basic ITR-1 criteria (e.g., total income > ₹50 Lakhs [VERIFY threshold], having capital gains, holding foreign assets, or being a Director in a company) but you don't have business income.
A worked example
A salaried employee earning ₹15 Lakhs who also sells mutual funds resulting in a long-term capital gain of ₹2 Lakhs must file ITR-2 instead of ITR-1.
Related terms
- ITR-1
- Capital Gains Tax
- HUF
Let the practice handle it
This term sits inside real compliance work — returns, filings, and deadlines. That work is one of the services the practice runs end to end.
Income Tax Return Filing