How to File ITR-2 Online? | ITR Filing FY 2024-25 (AY 2025-26)

The income tax department has categorized taxpayers based on income, source of income and many other factors to ensure easy compliance. Taxpayers with incomes from different categories, thus, have to download and fill out different income tax return forms.

The CBDT has officially released the ITR-3 for AY 2025-26, marking the start of the income tax return filing process for FY 2024-25. This form must be used to report income earned between April 1, 2024, and March 31, 2025, with some important changes. 

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

Change Area	Description
Capital Gains Split	Capital gains must be split based on transfer date: before or after 23rd July 2024.
Buyback Loss Reporting	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.
Assets & Liabilities Threshold	Reporting required only if total income exceeds ₹1 crore (raised from previous limit).
Enhanced Deduction Reporting	Detailed disclosures now required for deductions under Sections 80C, 10(13A) (HRA), etc
TDS Section Reporting	Taxpayers must report TDS sections in 'Details of TDS deducted' for better accuracy and reconciliation.

For instance, the ITR-2 form is for individuals and HUFs not carrying any profession or business. In this article, we cover the following.

What is ITR-2?

ITR-2 is utilized by individuals and Hindu Undivided Families (HUFs) for filing their Income Tax returns when they do not earn income from business or profession. Typically, it is used by those receiving income from sources like salary, pension, capital gains, and other sources.

Who is Eligible to File ITR-2 for AY 2025-26?

ITR-2 form is for individuals and HUF receiving income other than income from ‘Profits and Gains from Business or Profession’. Thus, individuals with income from the following sources are eligible to file Form ITR-2:

• Income from salary/pension
• Income from house property (income can be from more than one house property)
• Income from capital gains/loss on sale of investments/property (both short-term and long-term)
• Income from other sources (including winning from lottery, bets on racehorses and other legal means of gambling)
• Agricultural income of more than Rs 5,000
• 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 for AY 2025-26?

• 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.

What is the Structure of ITR-2?

ITR-2 is divided into:

• 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
  • 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
  • Schedule 115AD(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
  • 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 115JC
• Schedule AMTC: Computation of tax credit under Section 115JD
• 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 115UA, 115UB
• 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 Documents do I Need to File ITR-2? 

• If you have a salary income, you need Form 16 issued by your employer.
• If you have earned interest on fixed deposits or saving bank account and TDS has been deducted on the same, you need TDS certificates i.e., Form 16A issued by Deductors.
• You will need Form 26AS to verify TDS on salary as well as TDS other than salary. Form 26AS could be downloaded from the e-filing portal.
• If you are living in rented premises, you need rent paid receipts for the calculation of HRA (in case you have not submitted the same to your employer).
• If you have any capital gains transactions in shares, you will need a summary or profit / loss statement of capital gain transactions of shares or securities during a year, if any, for computation of capital gain.
• You will need your bank passbook, Fixed Deposit Receipts (FDRs) to calculate amount of interest income.
• If you have received rent from your rented house property, then you will need your tenant / local tax payment/interest on borrowed capital details (if any) to calculate income from house property.
• In case you want to claim any loss incurred during the current year, then you will need the relevant documents exhibiting the loss.
• In case you wish to claim the previous year’s loss, you will need a copy of ITR-V pertaining to the previous year, disclosing the said loss.
• You will also need documents or proofs 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., if the same were not considered in your Form 16.

Major Changes in ITR-2 in AY 2023-24 and AY 2024-25

The below changes are incorporated in the ITR-2 form of the FY 2022-23 and applicable for FY 2023-24 as well:

• Schedule VDA: Income from transfer of Virtual Digital Assets 
  A new schedule is added to compute income from cryptocurrencies or other virtual Digital assets
• Relief u/s 89A: An additional clause has been added related to relief to residents who have income from foreign retirement benefits accounts: 
  Point No. 1(e)4: Income taxable during the previous year on which relief u/s 89A was claimed in any earlier previous year
• Sec 10(12C): In other Exempt Income one new exemption added under Sec 10(12C) - Any payment from the Agniveer Corpus Fund to a person enrolled under the Agnipath Scheme or to his nominee.
• Schedule SI: New point added 115BBH - Income by way of transfer of Virtual Digital assets
• Section 80 CCH: Under Chapter VI A deduction new clause was added- The entire amount contributed by applicants employed by the Central Government to the Agniveer Corpus Fund is eligible for tax deductions.
• ARN: In schedule 80G clause D additional information is required for ARN (donation Reference number)

How to File ITR-2 on Cleartax?

You can file your income tax return (ITR) on the Cleartax platform. Here is a guide on filing ITR-2 if you have income from the sale of shares or redemption of mutual fund units.

Step 1: Log in or sign up on the Cleartax portal. We’ve added the link to the portal for you in the description below.

Step 2: If you are filing with us for the first time, you will have to link your PAN by entering your PAN, Date of Birth, and the OTP received on your registered mobile number. Linking your PAN will allow us to submit your return to the income tax department. 

Step 3: But if you filed with us last year and your PAN is already linked, you will directly see this pre-fill screen.

Step 4: Here, you will have to complete another OTP verification if you want us to pre-fill the details for you. So there are two options here: if you have your Aadhaar registered mobile number with you, you can opt for Aadhaar registered mobile number option and enter the single OTP received as an SMS. And if you don’t have the Aadhaar registered mobile number, select the IT Department registered mobile number here. In this case, you will have to enter two OTPs- one received on your mobile and the other one by e-mail.

Step 5: I agree it seems a lot of effort, but it is totally worth it! Look, most of your information has been auto-filled. You just saved nearly 2 hours of your precious time – you didn’t have to manually fill in details or get annoyed about silly typo errors!

Step 6: At the bottom, you can see the ‘Upload Form 16’ option. If you upload your Form 16 here, all your salary details will also be captured automatically. You can also upload multiple Form-16's if you have switched jobs in the Financial Year.

Step 7: And if you still want to do this yourself, you may skip and ‘Continue to e-file’.

Step 8: Here you will see 4 tabs: Personal Info, Income Sources, Tax Saving and Tax Summary. Let us first look at the personal info tab. Here all your personal details like name, address and other details will appear. You can expand each section and review these details. You also have the option to edit them, if required. 

Step 9: Now let us move to the Income Sources section.

Step 10: If you skipped uploading Form 16 earlier, you can upload it here and fill up the salary details in seconds!

Step 11: Now let’s come to the main income head of ITR-2, the capital gains section. If you have sold assets like stocks, mutual funds, Gold, bonds, shares received as a part of ESOP or RSU scheme, land or building, then the profit/loss from such transactions must be reported under capital gains. 

ClearTax has partnered with various brokerage firms to capture the capital gains transaction details in the schedule automatically.

Step 12: Let’s look at each section here. First, is stocks and mutual funds. You will have to obtain a report from your broker and identify the list of sell transactions and the corresponding buy transactions from this report. Then, depending on how long you’ve held the stocks, you will have to separate them into long-term and short-term and then do the calculations.

Step 13: All you have to do is select your stockbroker from the list and log in to your investment account and your capital gains are computed in just seconds.

 Step 14: If you have done any intraday transactions, we will automatically add them under the business income section as they do not qualify as capital gains.

Step 15: For some brokers, we don’t have the login option yet but you can directly drag and drop or upload the P&L report here.

Step 16: And in case you do not find your broker here (which is in the rarest of rare cases), you can download the excel template given here and fill in all these details and upload the filled template here. 

Step 17: If you have mutual funds, you should upload CAMS or Karvy P&L report by clicking on their respective icons here. You can also click on the "Mutual funds" tab. Here, you will see CAMS, KARVY, and a few other brokers. Upload the P&L report here and your capital gains will be computed. And if you have non-demat mutual funds, you must upload files from both Karvy and CAMS. That should be sufficient. 

But if you do not have the Excel files or if your broker’s name is not shown here, you can add the details manually too. 

Step 18: If you have invested in foreign stocks, then what? Then there is a separate section here. Like shown for stocks, you can either directly import the details from your broker. We support transactions from players like INDMoney, Vested etc. Even if your broker is not mentioned here, you can use our excel template to report all the transactions in a single go.

Now comes ESOPs and RSUs.   
Let’s quickly understand the taxability of ESOPs. In the year when you exercise ESOPs and receive shares, the benefit you receive by getting the shares at a lower price than the market price will be taxed as your salary and TDS will be deducted by your employer. In the year when you sell these shares, the gains/loss will be reported under the capital gains section. This is where capital gains comes into picture. ("A bell icon or a tip icon saying, listen carefully”)    
So, only if you have sold the shares received under ESOP or RSU scheme, you can use this section and add all the details like the type of shares (that is whether they are listed or not listed), date of purchase and sale and value of purchase-sale and brokerage expenses. Your capital gains will be calculated. 

Step 19: Likewise, you can add details for all the other assets like Bonds, gold, land and building.

Business or profession income is not applicable for ITR-2. But if you have any income from a business or profession, you can go ahead and add them here. If your broker provides intra-day transactions in the P&L file, we would have already parsed them and populated them under the Speculative Income section under Business Income as shown earlier. 

Step 20: Also, one common error people make while filing ITR is they miss adding income from dividends, savings bank and FD interest. You can add them in the other income sources section. Again, if your broker's p&L statement or your 26AS has it, we will populate it. Otherwise, you can provide the details manually. 

Step 21: Now let’s move to the Tax Savings tab- if you have made declarations to your employer, all such details will be auto-filled here. You can also enter the details manually and claim all the deductions here.

Step 22: If you had carried forward losses from last year, you can add them here and offset them with the gains. 

Step 23: If you scroll down, you will find the ‘tax-paid’ section. All the details of TDS and advance tax that you’ve paid will appear here. You can also add these details by uploading Form 26AS. If you’ve bought a car or if you’ve gone on a foreign vacation, tax may have been collected at source (TCS). That also gets filled from 26AS. And you can get this money back or adjust it with your taxes, who misses this chance

Step 24: Here, you will see a tax summary. Based on all the details you’ve added, we have auto-selected the ITR Form for you. Also, the best part about filing with us is that we auto-suggest the best tax regime for you that saves you the maximum taxes. 

You can always compare your tax payable under both regimes and even switch to the other tax regime.

Step 25: Click on file now, make payment, e-verify your return and be done with taxes this year!    
Oh! Don’t forget to collect these rewards from over 50+ brands because filing on Cleartax is not just fast, simple and secure but also very rewarding!

   
Download the ITR-2 form for AY 2024-25

Click here to download Form ITR 2 for AY 2024-25

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