Description
Who can use Form ITR-2? Individuals and Hindu Undivided Families not having business or professional income can use Form ITR-2. Thus, persons with any of the following types of income/ fulfilling any of the below criteria are eligible to file Form ITR 2: i) Salary Income.
Form ITR-2 can be used by the individuals having capital gains, more than one house property, foreign assets etc.
Thus persons having 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)
ITR-1
An individual resident in India can file income tax return in ITR-1 for income up to Rs 50 lakh. You can report income from salary, one house property, other sources and agricultural income up to Rs 5,000.
in ITR-2, the individual earns through activities like a lottery, gambling etc. The individual earns from 1 house property only.
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