The deadline for filing income tax returns (ITR) for students, pensioners, salaried folks and anyone else not subject to a tax audit is July 31, 2026. There are about three ITR forms (ITR-1, ITR-2, ITR-3) that most students, salaried individuals, and pensioners will need to use depending on their source of income.
For instance, a salaried person with no income other than salary can file ITR-1 if the salary is up to Rs 50 lakh. If it exceeds that, then they need to file ITR-2. However, if the salaried individual also dabbles in some future and options (F&O) trading, then ITR-3 needs to be filed, regardless of whether he made a profit or loss in F&O.
Like these, there are multiple criteria and income sources which determine which ITR form you need to file.
Who is eligible to file ITR-2?
According to the Income Tax Department website, ITR-2 can be filed by individuals or HUFs who
- Are not eligible to file ITR-1 (Sahaj)
- Do not have income from profit and gains of business or profession and also do not have income from profits and gains of business or profession in the nature of:
1. interest
2. salary
3. bonus
4. commission or remuneration, by whatever name called, due to, or received by him from a partnership firm
5. have the income of another person like spouse, minor child, etc., to be clubbed with their income, if income to be clubbed falls in any of the above categories.
What documents do I need to file ITR-2?
According to the Income Tax Department website, you need the following documents as reference for filing the ITR (they are not mandatory):
- If you have salary income, you need Form 16 issued by your employer.
- If you have earned interest on fixed deposits or savings bank accounts and TDS has been deducted on the same, you need TDS certificates i.e., Form 16A issued by Deductors.
- You will need Form 26AS to verify TDS on salary as well as TDS other than salary. Form 26AS could be downloaded from the e-Filing portal.
- If you are living in a rented house, you need rent paid receipts for calculation of HRA (in case you have not submitted them to your employer).
- If you have any capital gains transactions in shares, you will need a summary or profit / loss statement of capital gain transactions of shares or securities during a year, if any, for computation of capital gain.
- You will need your bank passbook, Fixed Deposit Receipts (FDRs) to calculate the amount of interest income.
- If you have received rent from your rented house property, then you will need your tenant / local tax payment / interest on borrowed capital details (if any) to calculate income from house property.
- In case you want to claim any loss incurred during the current year, then you will need the relevant documents exhibiting the loss.
- In case you wish to claim previous year's loss, you will need a copy of ITR-V pertaining to the previous year, disclosing the said loss.
- You will also need documents or proofs for claiming tax saving deductions u/s 80C, 80D, 80G, 80GG such as life and health insurance receipts, donation receipts, rent receipts, receipts for tuition fees etc., if the same were not considered in your Form 16.
How to file ITR-2 online on the e-filing ITR portal
According to Income Tax Department website, ITR-2 has the following sections that you need to fill (applicable schedule) before submitting the form:
3.1 Part A General
3.2 Schedule Salary
3.3 Schedule House Property
3.4 Schedule Capital Gains
3.5 Schedule 112A and Schedule-115AD(1)(iii) proviso
3.6 Schedule VDA
3.7 Schedule Other Sources
3.8 Schedule CYLA
3.9 Schedule BFLA
3.10 Schedule CFL
3.11 Schedule VI-A
3.12 Schedule 80G and Schedule 80GGA
3.13 Schedule AMT
3.14 Schedule AMTC
3.15 Schedule SPI
3.16 Schedule SI
3.17 Schedule EI
3.18 Schedule PTI
3.19 Schedule FSI
3.20 Schedule TR
3.21 Schedule FA
3.22 Schedule 5A
3.23 Schedule AL
3.24 Part B - Total Income (TI)
3.25 Tax Paid
3.26 Part B-TTI
Step-by-step guide:
Step 1: In the Part A General section of the ITR, you need to verify the pre-filled data from your e-Filing profile. You will not be able to edit some of your personal data directly in the form. However, you can make the necessary changes by going to your e-filing profile.
You can edit your contact details, filing status, residential status and bank details in the form itself.
