scorecardresearchIncome Tax e-filing: ITR-2 made available with prefilled data. Details

Income Tax e-filing: ITR-2 made available with prefilled data. Details here

Updated: 01 Jun 2023, 02:36 PM IST
TL;DR.

Income Tax Return Form of ITR-2 has been enabled to file through Online mode with prefilled data at the income tax portal: incometax.gov.in

Excel Utility of ITR-2 was made available on May 11

Excel Utility of ITR-2 was made available on May 11

The income tax department has recently released the income tax return (ITR) form 2 i.e., ITR-2 with prefilled data. This is done to enable taxpayers to file their income tax return for financial year 2022-23. For the unversed, financial year 2022-23 is the same as the assessment year (AY) 2023-24.

Before we proceed, let us understand what exactly is ITR - 2.

What is ITR-2?

ITR-2 can be filed by individuals of Hindu Undivided Families who are not eligible to file ITR-1 (sahaj), and also who do not have income from profit and gains of business or profession, and also do not have income from profits and gains of business or profession in the nature of interest, salary, bonus, bonus and commission received from a partnership firm.

Documents needed to file ITR-2

These are the documents you would need to file income tax return on ITR-2

1. You will need Form 16 issued by your employer if you have salary income. And if you have earned interest on fixed deposits or savings bank account and TDS has been deducted on the same, you need TDS certificates i.e., Form 16A issued by deductors.

2. Also, you will need Form 26AS to verify TDS on salary as well as TDS other than salary. Form 26AS could be downloaded from the e-Filing portal.

3. You would also need rent paid receipts for calculation of HRA (when not submitted to employer) if you stay in a rented house.

4. If you have any capital gains transactions in shares, you will need a summary or profit / loss statement of capital gain transactions of shares or securities during a year, if any, for computation of capital gain.

5. Bank passbook to compute interest income.

6. In case you want to claim any loss incurred during the current year, then you will need the relevant documents exhibiting the loss.

7. You will also need a copy of ITR-V pertaining to the previous year, in case you want to claim previous year’s loss.

8. To claim tax saving deductions under sections 80C, 80D, 80G, 80GG, you will also need documents or proofs

A few days ago on May 20, income tax returns form ITR 1 and ITR 4 were enabled at the portal in online mode with prefilled data. Prior to this, excel utility of ITR-2 for AY 23-24 was made available for filing on May 11. Excel utility for ITR-3 for AY 23-24 was made available for filing on May 25.

DatesForms released for AY 2023-24
May 11Excel utility of ITR-2 made available
May 20ITR-1 and ITR-4 enabled with prefilled data
May 25Excel utility of ITR-3 made available for filing
May 26Extended due date for filing form 10A and form 10AB to Sept 30
May 30ITR-2 enabled with prefilled data

(Source: www.incometax.gov.in)

In a related development, Central Board of Direct Taxes (CBDT) on May 26 extended due date for filing form 10A and form 10AB to 30th Sep 2023 in mentioned categories of applicants, along with associated relief from provisions of section 115TD (3) (iii), subject to conditions mentioned.

 

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First Published: 01 Jun 2023, 02:36 PM IST