ITR-2
ITR form for individuals and HUFs without business income who have capital gains, multiple properties, foreign assets or income above ₹50 lakh.
Definition
ITR-2 is the return form for individuals and Hindu Undivided Families who have no income from business or profession but whose affairs are too complex for ITR-1. Typical ITR-2 filers have capital gains (from shares, mutual funds, property, gold, crypto), income from more than two house properties, total income above ₹50 lakh, foreign assets or foreign income, non-resident or RNOR status, directorships, unlisted equity shares, or capital losses to carry forward.
For AY 2026-27 the ITR-2 due date is 31 July 2026, the same as ITR-1 — the one-month relaxation to 31 August 2026 announced for non-audit cases applies only to ITR-3 and ITR-4 (business/professional income). ITR-2 is filed on the e-filing portal, either through the online utility with pre-filled data or via the offline JSON utility, and must be e-verified within 30 days like any other return.
Common pitfalls: using ITR-1 when even a small amount of short-term capital gain or a third property pushes you into ITR-2; missing the Schedule FA (foreign assets) disclosure, which carries steep penalties under the black money law; and mis-reporting capital gains that must now be split around the 23 July 2024 rate-change date in the capital gains schedules. If you have any business or professional income, ITR-3 — not ITR-2 — is your form.
Example
Because Ramesh sold a flat during FY 2025-26 and also holds US stocks, he must file ITR-2, not ITR-1, for AY 2026-27.
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Sources
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