ITR-2 Filing Process 2025-26

Filing your Income Tax Return (ITR) is a crucial annual responsibility for taxpayers in India. For the Assessment Year (AY) 2025-26, understanding the nuances of the ITR-2 form is essential for individuals and Hindu Undivided Families (HUFs) with diverse income sources. This guide provides an in-depth overview of the ITR-2 filing process, eligibility criteria, step-by-step filing instructions, and recent updates to ensure a seamless filing experience.

Understanding ITR-2

The ITR-2 form is designated for individuals and HUFs who have income from sources other than “Profits and Gains from Business or Profession.” It encompasses various income streams, including:

• Income from Salary/Pension: For individuals receiving salary or pension income.
• Income from House Property: Earnings from more than one house property.​
• Capital Gains/Losses: Income from the sale of investments or property, covering both short-term and long-term capital gains.
• Income from Other Sources: Including winnings from lotteries, bets on racehorses, and other legal forms of gambling.​
• Foreign Assets/Income: For residents with foreign assets or foreign income.​
• Agricultural Income: Exceeding ₹5,000.

Notably, individuals with total income exceeding ₹50 lakh are required to file ITR-2. 

Who Should File ITR-2?

You should opt for ITR-2 if:

• Your total income exceeds ₹50 lakh.​
• You have income from more than one house property.​
• You have earned capital gains from the sale of assets or investments.​
• You hold directorship in a company.​ 
• You own shares in an unlisted company.​
• You have foreign assets or foreign income.​
• You have agricultural income exceeding ₹5,000.​

Conversely, if you have income from business or profession, ITR-2 is not applicable; forms like ITR-3 would be appropriate in such cases. ​

Key Changes and Updates for AY 2025-26

The Income Tax Department has introduced several updates to the ITR-2 filing process for AY 2025-26:

• Enhanced Excel Utility: An upgraded version of the Excel-based utility for ITR-2 was released on March 25, 2025, facilitating a more user-friendly experience. 
• Revised Return Filing: Taxpayers now have the option to file revised returns under Section 139(8A), allowing corrections to previously filed returns. 

Step-by-Step Guide to Filing ITR-2 Online

Filing your ITR-2 can be accomplished through the Income Tax Department’s e-Filing portal. Here’s a detailed walkthrough:

Step 1: Access the e-Filing Portal

• Visit the official Income Tax e-Filing portal: https://www.incometax.gov.in/iec/foportal.​
• Log in using your PAN (User ID), password, and the provided captcha code.

Step 2: Initiate Filing Process

• Upon logging in, navigate to the ‘e-File’ menu.​
• Select ‘Income Tax Returns’ and then click on ‘File Income Tax Return’. 

Step 3: Select Assessment Year and Filing Type

• Choose the Assessment Year as 2025-26.​
• Select the filing type as ‘Original’ or ‘Revised Return’ based on your situation.​

Step 4: Choose Filing Status

• Indicate your filing status as ‘Individual’ or ‘HUF’, as applicable.​

Step 5: Select ITR Form

• The system will prompt you to select the appropriate ITR form. Choose ‘ITR-2’.​

Step 6: Fill in the Required Details

• The ITR-2 form is comprehensive and divided into various sections. Ensure you provide accurate information in the following areas:​
  • Personal Information: Name, PAN, Aadhaar number, contact details, etc.​
  • Gross Total Income: Details of salary, house property income, capital gains, and other sources.​
  • Deductions and Taxable Income: Information on deductions under Chapter VI-A (e.g., Section 80C, 80D).​
  • Tax Paid and Verification: Details of taxes paid, TDS, and verification section.​

Step 7: Validate and Submit

• After entering all necessary details, validate each section to ensure accuracy.​
• Once validated, proceed to submit the return.

Step 8: E-Verify the Return

• Post submission, it’s imperative to verify your return. E-verification can be done through:
  • Aadhaar OTP.​
  • Net Banking.
  • Electronic Verification Code (EVC).
  • Sending a physical copy of ITR-V to CPC, Bengaluru.

E-verifying ensures faster processing of your return and expedites any refund process.​

Important Deadlines

• Due Date for Filing: The deadline for filing ITR-2 for AY 2025-26 is July 31, 2025, for individuals and HUFs not requiring an audit.

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