Taxpayer holds an Investment in unlisted equity shares at any point of time during the financial year.Taxpayer holds the position of a director in a Company.Taxpayer holds any foreign asset or earned any foreign income.Agricultural income earned is more than Rs 5000.The total income from the following heads of income exceeds Rs 50 lakh:.Income from other sources (including any income arising from winning lottery or racehorses).

Such individuals and HUFs must have earned the following income during the financial year: ITR 2 is applicable to taxpayers who are individuals and HUFs. Who is eligible to file ITR 2 for the assessment year 2020-21? A single dashboard will represent all the tax-related interactions. Immediate processing of ITRs will lead to quick income tax refunds for the taxpayers. The new IT portal will provide free-of-cost ITR preparation software for the month of June 2021. The ITR-1 and ITR-4 (online and offline), and ITR-2 (offline) are currently available on the new portal. This new e-filing website will soon replace the existing portal.The new portal is user-friendly and focuses on making the entire e-filing experience easy, quick, and seamless. The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. Section 194P has been newly inserted to enforce the banks to deduct tax on senior citizens more than 75 years of age who have a pension and interest income from the bank. Such senior citizen taxpayers have only pension income and interest income as their annual income source. Union Budget 2021 proposes to exempt senior citizens from filing ITR 1.

You can file ITR 2 either by preparing online on an e-filing portal or by filling an excel utility. ITR 2 is applicable only to individuals and HUFs who do not have any income from business or profession. The applicability of ITR 2 depends on the category of the taxpayer and the source of income.

Major Changes Made in ITR 2 for Assessment Year 2020-21.

How to file ITR 2 Form for AY 2020-21 Offline?.

How to file ITR 2 Form for AY 2020-21 With Excel Utility?.

How to file ITR 2 Form for AY 2020-21 Online?.

Who is not eligible to file ITR 2 for the AY2020-21?.

Who is eligible to file ITR 2 for the assessment year 2020-21?.

Itr 3 download