By Sheetal Kumari | March 3, 2025
Moneycontrol PF Team| Aug 1, 2025
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Taxpayers not earning from business/profession but from other sources like salary, capital gains, etc., should use ITR-2.
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Only individuals and Hindu Undivided Families (HUFs) without business income can file ITR-2.
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Residents (ROR, RNOR) and Non-Residents are all eligible to use ITR-2 if other conditions are met.
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If your total taxable income crosses ₹50 lakh in FY 2024-25, you must file using ITR-2.
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Income from salary, multiple properties, capital gains, dividends, interest, and foreign assets is permitted.
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Being a director in a company or holding unlisted equity shares makes you eligible for ITR-2.
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Report any income from Virtual Digital Assets like crypto or NFTs only through ITR-2.
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Those with income from business/profession or income from partnership firms like salary or bonus must avoid ITR-2.
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Form 16, 16A, 26AS, capital gain statements, bank passbook, HRA slips, rent/tax proofs, and tax-saving receipts are essential.
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ITR-2 now captures pre/post-July 23, 2024 capital gains & buyback loss claims from Oct 1, 2024.
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