Unlocking the ITR-2: Simplified Tax Filing for Capital Gains
Starting this financial year, individuals and Hindu Undivided Families (HUFs) with capital gains can file their income tax returns using ITR-2. The form is now available online with pre-filled data on the e-filing portal. The deadline for non-audited entities has been extended to September 15.
- Country:
- India
Individuals and Hindu Undivided Families (HUFs) with taxable capital gains can begin filing their Income Tax Returns using ITR-2 for the financial year 2024-25.
The Income Tax department announced that the ITR-2 form is now enabled for online filing with pre-filled data on the e-filing portal. This form is specifically for those who have income from capital gains but no earnings from business or profession.
While ITR-1 and 4 were made available last month for simpler tax filings handled by small and medium taxpayers, the government has now extended the deadline for filing these returns by non-audited individuals and entities to September 15, far beyond the original July 31 deadline.
(With inputs from agencies.)
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