ITR-2 Form Now Available Online; Income Tax Department Facility for Salaried Individuals and Investors

The Income Tax Department has started online filing of the ITR-2 form from Friday (July 18, 2025). As a result, salaried individuals, those earning capital gains, crypto earners, and other investors can now directly file their returns on the Income Tax e-filing portal.

Previously, only ITR-1 and ITR-4 forms were available online as well as in Excel utility. Currently, ITR-3 is available only in Excel utility format. However, now ITR-2 form is available in online mode with 'pre-filled data', as informed by the Income Tax Department on 'X'.

Who can file ITR-2?

According to Abhishek Soni, co-founder and Chartered Accountant at Tax2Win, the ITR-2 form is for individuals with the following types of income:

Salary or pension income

Income from more than one house property

Income from lotteries, horse races, or other income taxable at special rates

If invested in unlisted equity shares in any financial year

Individuals who are directors of a company

Individuals with income from India or abroad

Capital gains or foreign assets

Agricultural income exceeding ₹5,000

Income subject to clubbing provisions

Individuals with signing authority on foreign bank accounts

Individuals planning to carry forward loss on house property

If TDS is deducted under section 194N

What are the new changes in ITR-2?

Some important changes have been made in the ITR-2 form for the new financial year:

Separate details of capital gains before and after July 23, 2024

Loss on share buyback can be shown if the related dividend is shown under 'other sources' (after October 01, 2024)

The income limit for asset and liability reporting has been increased to ₹1 crore

More details required for exemptions under Section 80C and 10(13A)

It has become mandatory to mention the TDS code in Schedule-TDS

Important Documents Required for Filing ITR-2

1. Form 16 – Details of Salary from Employment

2. Form 16A – Other TDS (e.g., on Bank Interest)

3. Form 26AS – Consolidated Information of TDS

4. Rent Receipts – For HRA Exemption

5. Capital Gains Report – For Transactions in Shares

6. Bank Passbook, FDR, Savings Account – For Interest Information

7. Rental Income, Interest Calculation, Information on Local Taxes

8. Proofs for Exemptions – Insurance, Donations, Education Fees, Rent Receipts

9. ITR-V Copy if Loss from Previous Year

Important Date:

Deadline for Filing ITR – 15 September 2025

Income Tax E-filing Portal: https://incometax.gov.in