ITR-2 Filing Begins Online: Who Can File and What’s New
ITR-2 e-filing begins for AY 2025-26. Learn about eligibility, revised reporting rules, and why ITR-3 online filing is still delayed.
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The Income Tax Department has activated the online submission facility for Income Tax Return (ITR) Form 2 for the assessment year 2025-26. Individuals can now access and file ITR-2 directly on the official e-filing portal using pre-filled data.
The department announced the rollout via its official handle on X (formerly Twitter) on Friday. This update offers convenience for those preferring the pre-filled online method over the downloadable Excel-based utility.
The online ITR-2 form is now functional with updated features. It enables taxpayers to submit returns for income earned during financial year 2024-25, especially those with multiple income sources not involving business or profession.
Who Can File Using ITR-2
ITR-2 applies to individuals and Hindu Undivided Families (HUFs) reporting income from salary, pension, multiple house properties, capital gains, or other income sources, excluding income from business or professional activity.
Major Modifications in ITR-2 Format
Significant modifications have been made in line with recent tax rule changes. Notable updates include:
* Separate disclosures for long-term capital gains occurring before and after July 23, 2024, due to revised indexation and tax rate rules.
* Distinct reporting for unlisted bonds and debentures based on holding period.
* Mandatory reporting of buyback proceeds received from October 1, 2024, under both capital gains and other sources.
* Revised threshold for asset and liability declarations: taxpayers with income exceeding Rs 1 crore must now disclose assets and liabilities, up from the previous Rs 50 lakh limit.
On July 11, the department had launched Excel utilities for both ITR-2 and ITR-3. These allow offline filing and subsequent upload. However, the online ITR-3 filing with pre-filled data remains unavailable as of now.
Although ITR-3 Excel format is accessible, the online filing version with auto-filled data is yet to be released. This delay has affected many individual taxpayers and professionals who rely on the online mode to reduce data-entry errors and expedite the return process.
As of today, utilities for ITR-5, ITR-6, and ITR-7 are not yet released. No confirmation on their expected launch date has been made by the department.
