ITR 2 Form: How to submit online in 2016

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The Due Date for filing ITR 2 Form is 31st July of the assessment year. So if you are filing your income tax return for the financial year 2015-16, the due date of filing ITR 2 Form would be 31st July 2016. Every person whose income is more than the minimum amount exempted from the levy of income tax as per the income tax slabs is mandatorily required to file his income tax return.

Who can file ITR 2?

ITR 2 can be filed by any individual or HUF whose total income for the financial year includes:-

  1. Income from Salary/ Pension
  2. Income from House Property
  3. Income from Capital Gains
  4. Income from Other Sources (including winning from lottery and income from Race Horses)

In other words, this form cannot be used by an individual or HUF whose total income includes any income from Business or Profession.

Further, in a case where the income of another person like spouse, minor child etc. is to be clubbed with the income of the assessee, this form can only be used in cases where such income falls in any of the above categories.

Manner of filing ITR 2 Form

ITR 2 Form can either be filed physically or it can also be filed online. The ITR 2 Forms for filing returns can be downloaded from here:-

  1. ITR 2 PDF Form for Manual Filing for 2016
  2. ITR 2 Java Utility for Online Filing for 2016
  3. ITR 2 Excel Utility for Online Filing in 2016

No annexure/ forms like Form 16/ Form 16A/ Form 16BForm 26AS etc should be attached along with the income tax return. The Instructions for filing this form can be downloaded from here.

From the assessment year 2013 onwards, Online filing of income tax returns has been made mandatory for all taxpayers having total income exceeding Rs 5 Lakhs.

ITR 2 Acknowledgment

If you have furnished your Income Tax Return online, the Acknowledgement for ITR 2 would be sent to your email id. You can also download the same by logging in to your account on the income tax portal.

A printed of this acknowledgement is required to be taken and signed and sent to the Income Tax Deptt within 120 days of filing of the ITR 2 Form.

If you have furnished the ITR physically, the income tax department will issue you the acknowledgement at the time of filing of return.

A Personal Finance enthusiast, Karan is the founder of charteredclub.com and loves to discuss about Money related matters.