ITR-2 Online Filing Now Enabled, Taxpayers With Capital Gains & Crypto Income Can File Returns Easily
Key Highlights:
- Online filing with pre-filled data enabled for ITR-2.
- Covers taxpayers with capital gains, crypto, and foreign income.
- Extended ITR filing deadline: September 15, 2025.
New Delhi: Starting July 18, 2025, the Income Tax Department has enabled the online filing of the ITR-2 form through the official e-filing portal. This update is especially relevant for taxpayers with capital gains, crypto income, multiple property holdings, or foreign income. The extended due date for filing ITR for Financial Year 2024-25 (Assessment Year 2025-26) is September 15, 2025.
Until now, only ITR-1 and ITR-4 were available online. While ITR-3 is available in Excel utility mode, its online version is still pending. Taxpayers can now log in to the e-filing portal to begin their return filing process.
Who Should File ITR-2?
Tax experts clarified that ITR-2 applies to individuals or Hindu Undivided Families (HUFs) with income types such as:
- Salary or pension
- Income from more than one house property
- Capital gains (including crypto assets)
- Foreign income or foreign assets
- Income from lottery or horse races
- Agricultural income exceeding Rs 5,000
- Unlisted equity shares
- Company directorship
- Loss carry forward (e.g., property loss)
- Tax deducted under Section 194N
It also includes residents and non-residents having signing authority or financial interest in foreign assets.
What’s New in ITR-2 for AY 2025-26?
Several updates have been made to the ITR-2 form for this assessment year:
Capital Gain Schedule Revised: Gains must now be bifurcated before and after July 23, 2024, in line with changes from the Finance Act 2024.
Share Buyback Reporting: Losses from share buybacks allowed only if dividend income is reported under "income from other sources" post-October 1, 2024.
Asset & Liability Threshold Increased: Asset/liability reporting now mandatory for those with total income exceeding Rs 1 crore.
Enhanced Deduction Reporting: Expanded disclosures for Section 80C, 10(13A), etc.
TDS Code Reporting: Schedule-TDS now requires specific TDS section codes.
Documents Required for ITR-2 Filing
Before filing, ensure you have the following documents:
- Form 16 from employer (for salary income)
- Form 16A and Form 26AS (for interest and TDS verification)
- Capital gains summary for shares or crypto assets
- Rent receipts, house property income documents
- Bank statements, FDRs
- Proofs for deductions like insurance, donations, tuition fees
- Previous ITR-Vs for loss carry forward claims
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