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How to File ITR-2 for Income from Capital Gains FY 2022-23?

By Ektha Surana


Updated on: May 16th, 2023


8 min read

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Every individual needs to file their taxes in the specified IT return form. Taxpayers need to file ITR for capital gain by submitting ITR form 2 to the Income Tax Department. However, if your total income for a financial year includes income generated from business or profession, you will be required to file ITR-3 as the income tax return for capital gains. If your income source is salary, sale of foreign assets or property, etc., you are eligible to file ITR-2. Read on to know how to file the capital gain ITR form.  

Steps to File Income Tax Returns for Capital Gains on the e-Filing Portal

You can log in to the official portal of the income tax department and file your ITR for capital gains by following these steps: 

Step 1: Select Income Tax Returns from ‘e-File’, and then, click on ‘Income Tax Returns’ and select ‘File Income Tax Returns’.

e-File from income tax returns portal

Step 2: You need to select the assessment year, for instance, 2022-2023 and select ‘Online’ as the mode of filing.

Step 3: Next, select the form type (ITR-2) after choosing the status and select the reason for ITR filing

choosing ITR 2 on income tax portal

Step 4: On the next page, you can find 5 types of schedules. Click on ‘General’ and select ‘Income Schedule’. 

types of schedules

Step 5: Click on ‘Schedule Capital Gains’ and select the appropriate capital asset type from the list.

Step 6: If you want to file for STCG, click on ‘Add Details’ and enter the consolidated amount you have obtained from selling short-term assets and the Cost of Acquisition in a given financial year. However, for long-term capital gains, you need to enter details like purchase price, ISIN, transaction dates, selling price, etc., in Schedule 112A and click on 'Add'.

schedule capital gains

Step 7: After confirming the required schedules based on LTCG and STCG, you need to review Part B TTI.

Step 8: Click on ‘Preview Return’.

Step 9: Download the ITR and navigate to the ‘Declaration’ part.

ITR 2 form capital gains

Step 10: Enter the required details and click on ‘Proceed to Validation’.

Step 11: Once it is validated, you need to verify the filed ITR within 30 days. You can verify it online or mail a printout of the signed ITR-V (Acknowledgment form) to the IT department’s Bangalore branch.

Eligibility Criteria to File Form ITR-2 Form

You need to fulfil the following eligibility criteria to file the ITR-2 form:

  • Any Indian individual or member of the HUF (Hindu Undivided Family)
  • Salaried or pensioned individual.
  • Individuals earning capital gains from multiple houses, properties and other sources like horse racing, lottery winning, etc.
  • If you earn more than Rs 5,000 from agricultural income
  • If you earn from foreign assets or generate a foreign income.

Note: If you are earning from a business, any profession, partnership firm, etc., you are not eligible to file an ITR-2 form.

Documents Required to File ITR-2 Form

Check out the essential documents required for filing ITR-2 form:

  • Aadhaar Card
  • PAN (Permanent Account Number)
  • TDS certificates
  • Challan of the paid taxes
  • Bank account details
  • Original return details (if you are filing for a revised return)
  • Notice-related details (if you are filing in response to any notice)

Documents required for filing capital gain ITR form:

  • Stamp duty documents, sales and purchase deeds, improvement cost details, etc., if you are earning from land or buildings.
  • P&L statement from a broker, Stock ledgers, contract notes, trading statements, etc., if you earn from securities.
  • Improvement cost, details of expenses caused while transferring capital assets, cost of purchase, etc., if you earn from any other capital assets.
  • You need to provide investment details to claim tax exemptions.
  • If you have a capital gains account, make sure to provide its details.

Final Word

So, now you know how to file long-term capital gain in ITR-2, its eligibility criteria, the documents required, and much more. You can follow the steps mentioned above to file the ITR for both long-term and short-term capital gains without any hassles. Ensure entering the correct data in the required fields to avoid mistakes. 

About the Author

Multitasking between pouring myself coffees and poring over the ever-changing tax laws. Here, I've authored 100+ blogs on income tax and simplified complex income tax topics like the intimidating crypto tax rules, old vs new tax regime debate, changes in debt funds taxation, budget analysis and more. Some combinations I like- tax and content, finance & startups, technology & psychology, fitness & neuroscience. Read more


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