Who Can File ITR Form 2: The Income Tax Return Form is available on the Income Tax website for online filing with pre-filled data on the ITR-2 portal. The last date for filing returns is 31 July 2023.
New Delhi: The last date for filing income tax returns for the financial year 2022-23 has been announced as 31 July 2023. After issuing ITR-1, ITR-4 on May 20, 2023, Income Tax Department has now enabled online form for ITR-2. Let us know which taxpayer can file return using this form.
Income tax return form of ITR-2 is available for filing through online mode with prefilled data on the portal as per income tax website. The Income Tax Department has released the ITR-2 offline form on 17 May 2023 for filing Income Tax Return (ITR) for the financial year 2022-23 (AY 2023-24).
Unlike online, offline i.e. in case of Excel utility, taxpayers have to download the form, fill the required information and then upload it to the website for electronic filing.
In case of online ITR form, all taxpayers have to verify the pre-filled information along with their documents. Further, this data has to be verified from Form 26AS as well as Annual Information Statement (AIS).
ITR filing deadline July 31
The Central Board of Direct Taxes (CBDT) announced the ITR form in February this year. Income Tax Returns for the Financial Year 2022-23 (AY 2023-24) are now being submitted. For salaried taxpayers and whose accounts are not required to be audited, the last date for filing ITR is 31 July 2023.
Who is eligible to file ITR-2 form?
- Form ITR-2 is used to report salary income, income from other sources, income from house property (more than one) and capital gains.
- ITR-2 can be used by both tax residents (both ordinary and ordinary) and NRIs.If the taxable income is Rs. 50
- lakhs, then ITR 2 needs to be filed instead of ITR 1 even if the condition of filing ITR 1 is satisfied.
- Holders of unlisted shares or directors of the company need to file ITR 2, even if all the conditions for filing ITR 1 are satisfied.
- If an individual has any foreign assets, ITR 2 should be filed instead of ITR 1.
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