ITR-2 submitting goes dwell: Do not miss these modifications earlier than you file your revenue tax return

The Earnings Tax Division has opened the e-filing window for taxpayers on its portal, enabling them to file their revenue tax return kind ITR-2. The transfer will enable taxpayers to file their returns for the monetary yr 2024-25 by utilizing pre-filled knowledge by means of the net utility. Notably, customers discover this technique extra handy than the offline Excel utilities. In a submit on X, the Earnings Tax division stated, “Form Consideration Taxpayers! Earnings Tax Return Type of ITR-2 is now enabled for submitting by means of on-line mode with pre-filled knowledge on the e-filing portal.” 

How To Entry ITR-2 Kind?

The ITR-2 kind is now out there within the dropdown menu for choosing ITR types on the Earnings Tax e-filing portal. To file ITR-2 on-line, log in to the portal and entry the related submitting choice.

Earlier, the Earnings Tax Division unveiled the Excel-based utilities for ITR-2 and ITR-3. Underneath the power, customers have been required to obtain the types, fill them offline, after which add them on the portal to file their returns. 

ITR-2 applies to people and Hindu Undivided Households (HUFs) who: 

• Earn revenue from wage or pension, 
• Personal multiple home property, have capital beneficial properties, 
• Obtain revenue from different sources

Some Key Modifications in ITR-2 

• On account of new indexation and tax charge guidelines, long-term capital beneficial properties should be reported individually for intervals earlier than and after July 23, 2024
• Unlisted bonds or debentures should be declared distinctly 
• Buyback proceeds obtained on or after October 1, 2024, should be proven each beneath “Earnings from Different Sources” and as “Nil” consideration within the capital beneficial properties schedule.
• People with revenue above Rs 1 crore should now declare their belongings and liabilities. Earlier, this restrict was Rs 50 lakh.

Notably, ITR-2 excludes any revenue from enterprise or skilled actions. The web ITR-2 has been unveiled with main updates this yr. The present modifications have been launched because of the modifications caused within the capital beneficial properties tax regime for FY 2024-25.

Who Can Use ITR-2 Kind?

Taxpayers may also use the ITR-2 kind in the event that they want to membership the revenue of one other individual, together with a partner or a minor baby, with their revenue. Nevertheless, it ought to be used provided that the relevant circumstances for submitting ITR-2 are happy.

The final date to file ITR has been prolonged this yr for taxpayers not requiring an audit. Taxpayers can now file their return as much as September 15, 2025. As of July 18, 2025, over 1.41 crore returns have already been filed, and the Earnings Tax Division has additionally processed greater than 1.12 crore verified returns.