ITR-2 : Who Can File, Due Date, How to File for FY 2025-26 (AY 2026-27)

ITR-2 is an Income Tax Return form for individuals and HUF who do not have income from business or profession. It is applicable to taxpayers earning income from capital gains, more than one house property, foreign assets or foreign income, and for NRIs.

In simple terms, taxpayers who are not eligible for ITR-1 and do not have business or professional income should file ITR-2.

ITR-2 - Key Details You Should Know

Criteria	Details
Eligibility	Individuals, HUFs, NRIs and RNORs not eligible for ITR-1
Not Eligible	Having business or professional income
Due date	31st July 2026
Income Limit	Exceeding Rs. 50 lakhs

Who Can File ITR-2?

ITR-2 form is for individuals and HUF receiving income other than income from ‘Profits and Gains from Business or Profession’.

1. Income from salary or pension
2. Income from house property (income can be from more than one house property)
3. Income from capital gains or loss on sale of investments or property (both short-term and long-term)
4. Income from other sources (including winning from lottery, bets on racehorses and other legal means of gambling)
5. Agricultural income of more than Rs 5,000
6. Resident not ordinarily resident and a non-resident

The total income from the above sources may exceed Rs 50 lakh.

Further, if you are a Director of any company and an individual who has invested in unlisted equity shares of a company, you must file returns in ITR-2.

Who Cannot file ITR-2?

Any individual or HUF having income from business or profession.

Note - Taxpayers eligible to file ITR-1 can also file ITR-2. However, it is advisable to file using ITR-1 as long as they meet the eligibility criteria.

Last Date to File ITR 2 for FY 2025-26 (AY 2026-27)

The due date to file ITR-2 for FY 2025-26 (AY 2026-27) is 31st July 2026. Not filing ITR within the specified due date can attract late fees and additional interests. 

What is the Structure of ITR-2?

ITR-2 is divided into the following parts and schedules:

• Part A: General information
• Schedule S: Details of income from salaries
• Schedule HP: Details of income from house property
• Schedule CG: Computation of income under capital gains
  1. Schedule 112A - From the sale of equity share of a company or a unit of equity oriented fund /business trust on which STT is paid
  2. Schedule 116AD(1)(b)(iii) proviso- For non-residents -From the sale of equity share of a company or a unit of equity oriented fund/business trust on which STT is paid
  3. Schedule VDA - Income from Transfer of Virtual Digital Assets
• Schedule OS: Computation of income under income from other sources
• Schedule CYLA: Statement of income after set off of current year’s losses
• Schedule BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years
• Schedule CFL: Statement of losses to be carried forward to future years
• Schedule VIA: Statement of deductions (from total income) under Chapter VIA
• Schedule 80G: Statement of donations entitled for deduction under Section 80G
• Schedule 80GGA: Statement of donations for scientific research or rural development
• Schedule 80GGC: Statement of contribution made to political parties
• Schedule 80DD: Details of deduction in respect of maintenance including medical treatment of a dependent who is a person with disability 
• Schedule AMT: Computation of Alternate Minimum Tax payable under Section 116JC
• Schedule AMTC: Computation of tax credit under Section 116JD
• Schedule SPI: Statement of income arising to spouse/minor child/son’s wife or any other person or association of persons to be included in the income of the assessee in Schedules-HP, CG and OS
• Schedule SI: Statement of income which is chargeable to tax at special rates
• Schedule EI: Details of exempt income
• Schedule PTI: Pass through income details from business trust or investment fund as per Section 116UA, 116UB
• Schedule FSI: Statement of income accruing or arising outside India
• Schedule TR: Details of taxes paid outside India
• Schedule FA: Details of Foreign Assets and income from any source outside India
• Schedule 5A: Statement of apportionment of income between spouses governed by Portuguese Civil Code
• Schedule AL: Asset and liability at the year-end (applicable in case the total income exceeds Rs 50 lakh)
• Schedule tax deferred on ESOP: Information of tax-deferred on ESOPS received from eligible start-ups referred to in Section 80-IAC
• Part B-TI: Computation of total income
• Part B-TTI: Computation of tax liability on total income
• Tax payments- Details of payment of advance tax and self-assessment tax
• Declaration by the taxpayer
• Details to be filled if a tax return preparer has prepared the return

What are the Documents Needed to File ITR-2?

• Form 16 issued by your employer.
• Form 16A: If TDS has been deducted on interest income on fixed deposits or saving bank account
• Form 26AS: For verification of TDS on salary and non-salary income.
• Rent receipts: For the calculation of HRA (in case you have not submitted the same to your employer).
• Capital Gains Statement: If you have any capital gains transactions in shares or mutual funds.
• Bank Passbook, Fixed Deposit Receipts (FDRs): To calculate amount of interest income.
• Proof documents for tax saving deductions: For claiming tax saving deductions u/s 80C, 80D, 80G, and 80GG such as life and health insurance receipts, donation receipts, rent receipts, receipts for tuition fees etc., 

How to File ITR-2 on ClearTax?

Step 1: Log in or sign up on the ClearTax portal and link your PAN using the OTP sent to your registered mobile number.

Step 2: Complete the OTP verification to pre-fill your details from the Income Tax portal.

Step 3: Upload your Form 16 or choose to enter the details manually to continue with e-filing.

Step 4: Review the information under the Personal Information section and proceed to Income Sources.

Step 5: Upload Form 16 here if you skipped it earlier to automatically fill in your salary details.

Step 6: Add capital gains from assets such as stocks, mutual funds, gold, bonds, ESOPs/RSUs, or property.

Step 7: Import your stock and mutual fund transactions by logging in through your broker or by uploading the provided Excel

Step 8: Report intraday transactions, which are automatically classified under business income. 

Step 9: Enter details for foreign investments by importing from supported brokers or uploading the Excel template.

Step 10: Include income from dividends, savings account interest, and fixed deposits under Other Income.

Step 11: Claim deductions in the Tax Savings section, either from auto-filled data or by entering them manually. 

Step 12: Add any brought-forward losses to set them off against current gains.

Step 13:  Verify TDS and advance tax details in the Tax Paid section using auto-filled data or by uploading Form 26AS.

Step 14: Review the auto-selected ITR form and the suggested tax regime that helps you save the most tax.

Step 16: Click on File Now, complete the payment if applicable, and e-verify your return to finish the process.

How to File Your ITR-2 Online on Income Tax Portal?

Step 1: Visit the Income Tax e-filing Portal and log in using your PAN as the User ID and your password.

Step 2: After logging in, go to the e-File menu and select “Income Tax Return” from the drop-down. Choose the relevant Assessment Year and select the Online mode of filing.

Step 3: Click “Start New Filing” and select your applicable taxpayer status (Individual, HUF, etc.).

Step 4: Select the appropriate ITR Form (e.g., ITR-2, if applicable to you).

Step 5: Click “Let’s Get Started” and select the reason for filing your return.

Step 6: Choose the schedules applicable as per your sources of income.

Step 7: Begin with General Information, verify the pre-filled data, and select the tax regime (Old or New) applicable to you.

Step 8: Fill in all the relevant schedules according to your income details, then click “Proceed to Verification”.

Step 9: Review your return for errors, correct them if necessary, pay any self-assessment tax due, and submit your ITR.

Major Changes in ITR-2 in AY 2025-26

The key changes made in form ITR-2 for FY 2024-25 (AY 2025-26) are listed below:

• Capital gains must be split based on transfer date: before or after 23rd July 2024.
• From 1st October 2024, capital losses on share buybacks are allowed if the related dividend income is reported under "Income from Other Sources."
• A new field has been added to the Capital Gains Schedule in ITR forms to report such buy-back losses, ensuring compliance with the amended provisions.
• Reporting required only if total income exceeds ₹1 crore (raised from previous limit).
• Detailed disclosures now required for deductions under Sections 80C, 10(13A) (HRA), etc
• Taxpayers must report TDS sections in 'Details of TDS deducted' for better accuracy and reconciliation.

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