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ITR-2 Filing

ITR-2 is for individuals and HUFs with income from capital gains, multiple house properties, foreign income/assets, or ESOP benefits — but without any business or professional income. It is significantly more complex than ITR-1, requiring careful computation of short-term and long-term capital gains.

20,000+
Returns Filed
100%
On-Time Filing
4.9 ★
Client Rating
0
Defective Return Notices
Service Overview

Navigate Capital Gains & Complex Income Correctly

ITR-2 is required when you sell shares, mutual funds, property, or other capital assets, or when you have income from more than one house property. The form requires computing gains under different tax rates — 20% indexed LTCG on property, 10% LTCG on equity above ₹1 lakh, 15% STCG on equity, and various other rates. Mistakes in capital gains computation lead to under-reporting (which triggers notices) or over-payment (which means wasted money). Our CA team ensures correct computation, exemption claims under Section 54, 54F, and 54EC, and proper foreign asset reporting.

Critical: Capital gains from property, shares, or mutual funds must be reported in ITR-2 — not ITR-1. Filing the wrong form is treated as a defective return under Section 139(9). The department sends a notice giving 15 days to rectify — missing that window means the return is void and penalties apply.

Capital Gains Computation

Correct rates for each asset type

Equity gains are taxed at 10% (LTCG above ₹1 lakh) or 15% (STCG). Property and other assets are taxed at 20% with indexation (LTCG) or as per slab (STCG). We compute each accurately.

Capital Gains Exemptions

Section 54, 54F, 54EC savings

Property sale capital gains can be exempt if reinvested in another residential property (Section 54) or in specified bonds (Section 54EC). We evaluate and claim all eligible exemptions.

Multiple House Properties

Self-occupied vs. deemed let-out

Individuals with 2+ properties must treat additional properties as deemed let-out — paying notional rent tax. We compute this accurately and ensure self-occupied property claims are correct.

Foreign Income & Assets

Schedule FSI and Schedule FA

Resident individuals with foreign income, foreign bank accounts, or foreign assets must report them in Schedule FSI and Schedule FA. We handle DTAA relief claims on double-taxed foreign income.

Eligibility Criteria

Who Must File ITR-2?

ITR-2 covers individuals and HUFs who cannot use ITR-1 due to having capital gains or foreign income.

1

Capital Gains from Any Asset

Any individual who has sold shares, mutual funds, property, gold, or any other capital asset during the year must file ITR-2 (if no business income).

2

Income from More Than One House Property

If you own two or more house properties, you cannot use ITR-1. Report all house properties — self-occupied, let-out, and deemed let-out — in ITR-2.

3

Foreign Income or Assets

Resident individuals with foreign bank accounts, investments, or income from foreign sources must report them in ITR-2's Schedule FA and Schedule FSI.

4

Income Above ₹50 Lakhs

Individuals with total income exceeding ₹50 lakhs must use ITR-2 even if income is only from salary and one house property.

Key Benefits

Why Expert ITR-2 Filing Is Essential

ITR-2 complexity demands professional handling to avoid both under-reporting and over-payment.

01

Correct STCG vs. LTCG Classification

Wrong classification of a gain as short-term vs. long-term changes the tax rate significantly. Our experts classify each transaction correctly based on holding period rules.

02

Section 54 / 54EC Exemption Claims

Save lakhs in capital gains tax by reinvesting property sale proceeds within prescribed timelines. We plan and execute these reinvestments correctly.

03

ESOP Tax Planning

ESOPs are taxed as perquisite at exercise and as capital gain at sale. We compute both tax events correctly and identify holding period requirements for LTCG treatment.

04

Avoid Capital Gains Notices

The Income Tax Department cross-references capital gains with stock broker reports and property registry data. Unreported gains trigger 148 notices with interest and penalty.

05

NRI-Specific Compliance

NRIs filing ITR-2 must declare foreign income and DTAA relief correctly. We handle Schedule FSI, DTAA articles, and foreign tax credit claims with expertise.

06

Carry Forward Losses

Capital losses can be carried forward for 8 years to offset future gains — but only if the return is filed on time. We ensure timely filing to preserve this benefit.

Step-by-Step Process

How We File Your ITR-2

Our process is thorough — ensuring every transaction is correctly reported and every exemption is claimed.

Your journey Step 1 of 6

Scroll through the steps — or skip the queue and let our experts handle every one of them for you.

Get Expert Help
1
Step 1 of 6

Gather Capital Gains Data

Collect capital gains statements from brokers (Zerodha, Groww, etc.), property sale agreements, and mutual fund account statements for the year.

2
Step 2 of 6

Review AIS & Form 26AS

Cross-check the Annual Information Statement for property sale data, dividend income, and any high-value transactions reported by third parties.

3
Step 3 of 6

Compute Capital Gains

Calculate STCG and LTCG for each asset class — equity, debt, property, and other assets — applying correct rates, indexation, and grandfathering provisions.

4
Step 4 of 6

Evaluate Exemptions

Assess eligibility for Section 54, 54B, 54EC, 54F exemptions. Ensure reinvestment was done within the prescribed timeline and amounts.

5
Step 5 of 6

Prepare and Review ITR-2

Prepare all schedules — BFLA (brought forward losses), CG (capital gains), HP (house property), SI (special income), FSI (foreign source income) — and share the draft for your review.

6
Step 6 of 6

File & Verify

Submit the ITR-2 online and complete e-verification via Aadhaar OTP or DSC within 30 days.

Document Checklist

Documents Required for ITR-2 Filing

Capital gains and property transactions require specific supporting documents.

Capital Gains Documents

Capital Gains Statement from Broker

Detailed statement from your stock broker or mutual fund house showing each transaction, purchase price, sale price, and gain/loss.

Property Sale Agreement

Sale deed and purchase deed with dates and amounts for capital gains computation on property.

Form 26AS / AIS

To verify property sale data, TDS on property sale (if applicable), and any undisclosed income.

For property sales, the purchase price in indexed terms (using CII) is the cost of acquisition for LTCG computation. Retain the original purchase agreement, improvement bills, and registration receipts for this calculation.

Post Registration

After Filing ITR-2

Capital gains tax computations often require follow-up with the Income Tax Department.

Within 30 days

E-Verify the Return

Complete e-verification within 30 days using Aadhaar OTP or DSC. Unverified returns are invalid — even if submitted.

Quarterly

Pay Advance Tax if Required

If capital gains arise mid-year, advance tax must be paid to avoid interest under Section 234C. We estimate and schedule payments for any unexpected capital gains events.

7-year retention

Retain Records for 7 Years

Keep all capital gains documents — broker statements, property deeds, reinvestment proofs — for at least 7 years. The IT Department can scrutinize returns up to 7 years later.

Why Finace India?

Your Trusted ITR-2 Filing Partner

File capital gains in the wrong form and it's treated as a defective return under Section 139(9) — with only 15 days to fix it. We classify every gain correctly and file the right form the first time.

Correct STCG vs. LTCG Classification

Every capital asset classified and taxed at the right rate, from equities to property.

Section 54 / 54EC Exemptions

Reinvestment and bond exemptions claimed accurately to reduce your capital gains tax.

NRI & Foreign Asset Compliance

Foreign income, assets and NRI-specific schedules handled by specialists who know the disclosure rules.

Notice-Proof Filing

Returns filed to withstand CPC's automated capital gains matching checks.

20,000+

Returns Filed

100%

On-Time Filing

4.9 ★

Client Rating

0

Defective Return Notices

4.9 / 5from 2,400+ verified reviews
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FAQ

Frequently Asked Questions

ITR-2 is required if you have capital gains from any asset, own more than one house property, have foreign income or assets, or have income exceeding ₹50 lakhs (even if only from salary).
LTCG on equity shares and equity-oriented mutual funds held for more than 12 months is taxed at 10% (plus surcharge and cess) on gains above ₹1 lakh per year. Gains up to ₹1 lakh are completely exempt.
Short-term capital losses can be offset against both STCG and LTCG. Long-term capital losses can only be offset against LTCG. Capital losses cannot be offset against salary, business, or other income.
Yes. If your tax liability for the year (after TDS) exceeds ₹10,000, advance tax is mandatory. For capital gains arising late in the year (December–March), the entire advance tax is due by March 15.
Equity shares and mutual funds purchased before February 1, 2018 get a step-up in cost basis to the closing price on January 31, 2018 — this is the 'grandfathering' provision. Our system applies this correctly for shares acquired before this date.

Still have questions?

Our experts are happy to walk you through the process.

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