ITR PERSONAL (ITR-2)

Itr Personal (itr-2)

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)
• Foreign Income
• 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 invested in unlisted equity shares of a company, you must file returns in ITR-2.