What is ITR-2?

ITR-2 is an Income Tax Return Form. Any individual or HUF, who does not earn any income from business or profession can file ITR-2 form, for filing their annual income tax returns. For more information about this Form click here

Here you can have a look at ITR-2 Form

ITR- 2 consists of various schedules and they are as follows: -

Schedule S: salary income details

Schedule HP: house property income details

Schedule CG: calculation capital gains income

Schedule OS: calculation of income from other sources.

Schedule CYLA: details of income after settling off current year's losses

Schedule BFLA: details of income after settling off the unabsorbed loss brought forwarded from the earlier years.

Schedule CFL: details of losses need to carry forward to coming years.

Schedule VIA: details of deductions from total taxable income under Chapter VIA.

Schedule 80G: details of donations eligible for deduction under section 80G.

Schedule SPI: details of income earned by spouse / minor child/son's wife or any other family member which will be included in the taxpayer’s total income in Schedules-HP, CG, and OS.

Schedule SI: details of income liable to taxed at special rates

Codes that prescribe special rates of tax that need to be filled in Schedule SI

Nature of Income	Section	Rate of Tax	Section Code
Tax on accumulated balance of recognized PF	111	To be calculated according to the rule 9(1) of Part A of the fourth Schedule	1

Short Term Capital Gains	111A	15	1A
Long-term capital gains including indexing	112	20	21
Long-term capital gains excluding indexing	112	10	22
Income dividends and interest from units purchase in foreign currency	115A (1)(a)	20	5A1a
Income from technical services or royalty, where agreement entered between 31.3.1961 to 31.3.1976 in case of royalty and between 29.2.1964 and 31.3.1976, and agreement is approved by the Central Government.	Paragraph EII of Part I of the first schedule of the Finance Act	50	FA
Income from technical services or royalty	115A (1)(b) if agreement is entered on or before 31.5.1997	20	5A1b1
Income from technical services or royalty	115A (1)(b) if agreement is entered on or after 31.5.1997 but before 1.6.2005	20	5A1b2
Income from technical services or royalty	115A (1)(b)if agreement is on or after 1.6.2005	10	5A1b3
Income received in respect of units brought in foreign currency by an off-shore fund	115AB (1)(a)	10	5AB1a
Earnings by way of long-term capital gains arising from the transfer of units purchase in foreign currency by an off-shore fund	115AB (1)(b)	10	5AB1b
Earnings from bonds or GDR purchases in foreign currency or capital gains arising from their transfer in case of a non-resident	115AC (1)	10	5AC
Earnings from GDR purchased in foreign currency or capital gains arising from their transfer in case of a resident	115ACA (1)	10	5ACA
Profits and gains from life insurance business	115B	12.5	5B
Winnings from lotteries races including horse races crosswords puzzles card games and gamblings or betting of any form or nature	115BB	30	5BB
Tax levied on non-residents sports associations or sportsmen	115BBA	10	5BBA
Tax levied on income from units of an open-ended equity-oriented fund of the Unit Trust of India or of Mutual Funds	115BBB	10	5BBB
Unspecified donations	115BBC	30	5BBC
Income from long-term capital gains	115E (a)	20	5Ea
Income from investment	115E (b)	10	5Eb
Double Taxation Agreement			DTAA

Schedule EI: details of exempted Income

Schedule IT: details of advance tax and tax on self-assessment payments.

Schedule TDS1: Details of TDS deducted from salary.

Schedule TDS2: details of tax deducted at source on income other than salary.

Schedule FSI: details of income earned from abroad

Schedule TR: details of taxes paid in abroad

Schedule FA: details of Foreign Assets.

Schedule 5A: details of apportionment of income between spouses governed by Portuguese Civil Code.

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