ITR-2 Return Filing
ITR-2 Return Filing
Professional ITR-2 return filing support for eligible individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession, including cases involving capital gains, multiple house properties, foreign assets or income, unlisted equity, director status and other ITR-1 exclusions.
ITR-2 — Complete Income Tax Return Filing Support
GSTBUY helps eligible taxpayers organise ITR-2 information, reconcile pre-filled data and tax credits, review capital gains and house-property schedules, check applicable disclosures and complete the Income Tax e-Filing workflow before verification.
What Is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and Hindu Undivided Families (HUFs) who do not have income chargeable under the head “Profits and Gains of Business or Profession”. For AY 2026-27, the Income Tax Department states that ITR-2 can cover salary or pension, house property, capital gains and specified other-source income, including cases where total income exceeds ₹50 lakh.
ITR-2 is broader than ITR-1. It is commonly relevant where a taxpayer has capital gains, more than two house properties, agricultural income above ₹5,000, director status, unlisted equity holdings, or other circumstances that make ITR-1 unavailable while business/profession income is absent.
Who Can File ITR-2 for AY 2026-27?
The Income Tax Department's current AY 2026-27 guidance says ITR-2 is applicable to Individuals, whether Resident or Non-Resident, and HUFs deriving income other than income chargeable under the head Profits and Gains of Business or Profession. The Department specifically lists salary/pension, house property including more than two properties, capital gains, other sources including specified winnings, and agricultural income exceeding ₹5,000 among the situations covered.
Common ITR-2 Cases
- Salary or pension income without business/profession income
- Income from more than two house properties
- Short-term or long-term capital gains
- Agricultural income exceeding ₹5,000
- Specified other-source income, including listed winnings where applicable
- Total income above ₹50 lakh
- Individual who is a director in a company
- Individual holding unlisted equity shares during the relevant previous year
Eligibility Must Be Checked First
- Individual or HUF status
- Residential status and relevant disclosure requirements
- No income chargeable under business/profession
- Capital-gain position
- House-property count and income
- Foreign asset / foreign income position
- Unlisted equity and directorship status
- Applicable schedules and disclosure requirements
Who Cannot Use ITR-2?
ITR-2 is not a general-purpose return for taxpayers having business or professional income. The Income Tax Department states that ITR-2 cannot be filed by an individual or HUF whose total income includes income from profits and gains of business or profession, including specified interest, salary, bonus, commission or remuneration from a firm that is taxable under that head. Such taxpayers need to consider the appropriate return form based on their facts.
ITR-2 Income & Disclosure Areas
| Area / Schedule | Typical Information | GSTBUY Review |
|---|---|---|
| Part A – General | PAN, personal information, contact details, filing status, residential status and bank details. | Check pre-filled information and update editable fields through the form/profile where required. |
| Salary / Pension | Salary, pension, employer details, taxable components and TDS information. | Reconcile Form 16 and salary records with portal data and tax credits. |
| House Property | Income or loss from house properties, including more than two properties where applicable. | Review ownership, rent, interest and property-specific information. |
| Capital Gains | Short-term and long-term capital gains from eligible transfers of capital assets. | Reconcile sale/purchase records, broker statements, transaction dates, cost and applicable tax treatment. |
| Other Sources | Interest, dividend, family pension and other-source income, including specified winnings where applicable. | Compare AIS, bank statements, certificates and supporting records. |
| Foreign Sources / Assets | Applicable foreign income, foreign assets and related disclosures for eligible taxpayers. | Review foreign-source records and required schedules before filing. |
| Tax Paid | TDS, TCS, advance tax and self-assessment tax. | Reconcile credits with AIS, Form 26AS and challans. |
| Tax Liability / Refund | Tax, rebate, interest, fee and refund/demand position. | Review the final portal computation before submission and verification. |
Capital Gains — Detailed ITR-2 Review
Capital gains are one of the most important reasons an eligible taxpayer may need ITR-2 instead of ITR-1. The ITR-2 capital-gains schedule can cover short-term and long-term gains, subject to the relevant rules and disclosures. For AY 2026-27, the Income Tax Department's FAQ states that the earlier requirement to bifurcate capital gains based on transfers before and after 23 July 2024 has been removed, and the applicable AY 2026-27 rates should be used.
House Property Income in ITR-2
Unlike ITR-1's limited house-property eligibility, ITR-2 can be used for income from more than two house properties, provided the taxpayer otherwise meets ITR-2 conditions. The schedule can involve self-occupied, let-out or deemed-let-out property information, rental details, municipal-tax treatment where relevant, interest on borrowed capital and resulting income or loss as prescribed by the form and law.
Salary, Pension & Form 16 Review
Salary and pension income can still form part of ITR-2. The correct preparation should reconcile Form 16, salary records, pension records where applicable, employer information and TDS with the information displayed by the Income Tax Department.
Other Sources of Income
ITR-2 can report a wider range of other-source income than ITR-1, subject to the form and tax rules. The Department's AY 2026-27 ITR-2 guidance expressly includes other sources such as winnings from lotteries, racehorses, betting and gambling. All applicable income should be identified and reported using the relevant schedule and tax treatment.
Foreign Assets, Foreign Income & Related Disclosures
ITR-2 can be relevant where foreign assets or foreign income are involved and the taxpayer otherwise meets the form conditions. Such disclosures require careful review of the applicable schedules, residential status and supporting records. Foreign-source income may also require related tax-credit or relief information where applicable.
Information to Organise
- Nature and location of foreign asset
- Account / investment details where applicable
- Foreign-source income
- Relevant dates and ownership information
- Foreign tax paid, where applicable
- Supporting statements and documents
GSTBUY Review Focus
- Residential-status check
- Schedule applicability
- Consistency with source records
- Foreign income reconciliation
- Applicable tax-credit / relief review
- Final disclosure validation
Director Status & Unlisted Equity Shares
The Income Tax Department specifically states that an individual who is a director in a company, or who held unlisted equity shares at any time during the relevant previous year, is required to furnish ITR-2 where the other conditions of the form are satisfied. These disclosures should be checked before selecting ITR-1.
AIS, Form 26AS & Pre-Filled Data Reconciliation
ITR-2 preparation should not rely only on pre-filled information. GSTBUY recommends reconciling the portal data with Form 16, Form 16A, AIS, Form 26AS, bank statements, broker statements, property records and other source documents. The Income Tax Department's guidance also directs taxpayers to check AIS and Form 26AS and reconcile discrepancies with the relevant employer, deductor, bank or other reporting source.
Core Reconciliation
- Form 16 salary and TDS
- Form 16A and non-salary TDS
- AIS reported transactions
- Form 26AS tax credits
- Bank interest and dividend
- Capital-gain transaction statements
- Property income
- Tax payments and challans
When There Is a Difference
- Identify the reporting source
- Compare the underlying transaction
- Contact the relevant deductor/reporting entity if required
- Retain evidence supporting the final disclosure
- Do not blindly accept or reject pre-filled information
Documents & Information Required for ITR-2
The Income Tax Department's ITR-2 FAQ lists supporting information such as Form 16 for salary income and Form 16A for certain TDS on interest. Because ITR-2 can include capital gains, house property, foreign assets and other disclosures, the document set depends on the taxpayer's actual profile. ITR forms are generally prepared without attaching supporting documents, but taxpayers should retain their records.
Old Tax Regime vs New Tax Regime
The Income Tax Department's current ITR-2 user manual states that for AY 2026-27 the New Tax Regime is the default and the relevant filing section shows the applicable selection. A taxpayer who wants to opt out of the New Tax Regime can select the appropriate option and complete the required residential-status information, subject to the law and eligibility.
| Review Point | New Tax Regime | Old Tax Regime |
|---|---|---|
| Default for AY 2026-27 | Default tax regime under the current ITR-2 portal manual. | Requires the applicable opt-out/selection where permitted. |
| Deductions / Exemptions | Certain deductions and exemptions are restricted or unavailable depending on the provision. | More deductions/exemptions may be available where the taxpayer satisfies the relevant conditions. |
| Tax Computation | Use the applicable AY 2026-27 rates and rules. | Use the applicable old-regime rates and rules. |
| GSTBUY Review | Compare the taxpayer's actual income, eligible deductions and resulting tax before finalising the regime selection. | |
AY 2026-27 Tax Slabs — New Regime
The Income Tax Department's current ITR-2 FAQ lists the AY 2026-27 new-regime slab structure as follows. These figures are included for information and should be checked against the applicable current portal computation before filing.
| Taxable Income Range | New-Regime Rate | Review Note |
|---|---|---|
| Up to ₹4,00,000 | Nil | Apply the current statutory rules and portal computation. |
| ₹4,00,001 – ₹8,00,000 | 5% | Slab applies to the relevant portion of taxable income. |
| ₹8,00,001 – ₹12,00,000 | 10% | Review rebate eligibility separately. |
| ₹12,00,001 – ₹16,00,000 | 15% | Use the applicable AY computation. |
| ₹16,00,001 – ₹20,00,000 | 20% | Use the applicable AY computation. |
| ₹20,00,001 – ₹24,00,000 | 25% | Use the applicable AY computation. |
| Above ₹24,00,000 | 30% | Surcharge/cess and special-rate income require separate review where applicable. |
ITR-2 Filing Process Through the Income Tax Portal
Official Portal Workflow — Step by Step
The current Income Tax Department ITR-2 user manual describes the online route as logging in to the e-Filing portal, selecting e-File → Income Tax Returns → File Income Tax Return, selecting Assessment Year 2026-27, choosing Online mode, selecting the applicable taxpayer status and ITR-2, reviewing the document list, selecting the filing reason, validating pre-filled information, entering/editing applicable schedules and then proceeding to verification.
Tax Computation, TDS/TCS & Refund
After the applicable schedules are completed, the return computes the taxpayer's income and tax position. GSTBUY recommends checking TDS, TCS, advance tax and self-assessment tax against AIS, Form 26AS and challans before final submission. If a refund is due, the taxpayer should maintain appropriate bank-account details on the e-Filing portal.
Validation, Preview & e-Verification
The ITR-2 workflow includes validation before final submission. The taxpayer should correct errors, preview the completed return and then complete the verification process. The Income Tax Department provides online e-Verification methods and also supports the applicable ITR-V process where verification is completed through the prescribed route.
PAN, Aadhaar & Bank Account Checks
Before filing, GSTBUY recommends checking PAN status, profile information, residential status, contact details and bank-account information. The exact fields that can be edited in the return versus the e-Filing profile depend on the current portal workflow.
Common ITR-2 Filing Errors to Avoid
GSTBUY ITR-2 Filing Service
GSTBUY provides structured ITR-2 preparation and filing-support assistance for eligible Individuals and HUFs. The service focuses on form selection, source-document review, capital-gain and property reconciliation, tax-credit checks, applicable disclosures, portal validation and verification support.
Our Review Includes
- ITR-2 eligibility screening
- Income and document checklist
- Form 16 / 16A / AIS / 26AS reconciliation
- Capital-gain transaction review
- House-property review
- Foreign asset/income disclosure review where applicable
- Tax-regime comparison
- Validation and e-Verification guidance
Suitable For
- Individuals not eligible for ITR-1
- HUFs without business/profession income
- Taxpayers with capital gains
- Taxpayers with more than two house properties
- Eligible taxpayers with foreign assets/income
- Eligible directors / unlisted-equity holders
Frequently Asked Questions
What is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession and who require a return form broader than ITR-1.
Who can file ITR-2 for AY 2026-27?
The Income Tax Department states that Individuals, whether Resident or Non-Resident, and HUFs can use ITR-2 where they have eligible income such as salary/pension, house property, capital gains or specified other-source income and do not have business/profession income.
Is there a ₹50 lakh income limit for ITR-2?
No. The Department states that ITR-2 can be filed irrespective of the quantum of total income, including cases where total income exceeds ₹50 lakh, subject to the other conditions.
Can an NRI file ITR-2?
Yes, ITR-2 can apply to an Individual who is Resident or Non-Resident, provided the other ITR-2 conditions are satisfied.
Can ITR-2 be used for business income?
No. Income chargeable under Profits and Gains of Business or Profession is outside ITR-2. The taxpayer should consider the appropriate form based on the business/profession facts.
Can ITR-2 report capital gains?
Yes. Capital gains, including short-term and long-term capital gains, are specifically covered by ITR-2 subject to the applicable rules and schedules.
Can ITR-2 cover more than two house properties?
Yes. The Income Tax Department's AY 2026-27 guidance specifically states that ITR-2 can cover income from more than two house properties.
Does ITR-2 apply to company directors?
The Department states that an individual who is a director in a company is required to furnish ITR-2 where the other conditions of the form are satisfied.
What if I hold unlisted equity shares?
The Department states that an individual who held unlisted equity shares at any time during the relevant previous year is required to furnish ITR-2 where applicable.
Should I check AIS and Form 26AS?
Yes. Reconciliation of AIS, Form 26AS and the underlying records is an important pre-filing control for income and tax-credit accuracy.
Which tax regime is the default for AY 2026-27?
The current ITR-2 user manual states that the New Tax Regime is the default for AY 2026-27. Taxpayers who wish to opt out should follow the applicable portal process and legal conditions.
Can GSTBUY guarantee a refund or tax outcome?
No. GSTBUY can provide preparation and filing-support assistance, but the final tax liability, refund, processing and determination remain subject to the Income Tax Department and applicable law.
Need Help With ITR-2 Return Filing?
Share your ITR-2 income and tax documents with GSTBUY for structured preparation, capital-gain and property review, reconciliation, tax-regime review and filing-support assistance.
Start ITR-2 Return Filing →Information on this page is prepared with reference to current Income Tax Department / e-Filing portal guidance for AY 2026-27. Tax rules, forms, utilities, schemas, validations and portal workflows can change; the applicable Assessment Year rules should be checked before filing.
ITR-2 Return Filing
Professional ITR-2 return filing support for eligible individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession, including cases involving capital gains, multiple house properties, foreign assets or income, unlisted equity, director status and other ITR-1 exclusions.
ITR-2 — Complete Income Tax Return Filing Support
GSTBUY helps eligible taxpayers organise ITR-2 information, reconcile pre-filled data and tax credits, review capital gains and house-property schedules, check applicable disclosures and complete the Income Tax e-Filing workflow before verification.
What Is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and Hindu Undivided Families (HUFs) who do not have income chargeable under the head “Profits and Gains of Business or Profession”. For AY 2026-27, the Income Tax Department states that ITR-2 can cover salary or pension, house property, capital gains and specified other-source income, including cases where total income exceeds ₹50 lakh.
ITR-2 is broader than ITR-1. It is commonly relevant where a taxpayer has capital gains, more than two house properties, agricultural income above ₹5,000, director status, unlisted equity holdings, or other circumstances that make ITR-1 unavailable while business/profession income is absent.
Who Can File ITR-2 for AY 2026-27?
The Income Tax Department's current AY 2026-27 guidance says ITR-2 is applicable to Individuals, whether Resident or Non-Resident, and HUFs deriving income other than income chargeable under the head Profits and Gains of Business or Profession. The Department specifically lists salary/pension, house property including more than two properties, capital gains, other sources including specified winnings, and agricultural income exceeding ₹5,000 among the situations covered.
Common ITR-2 Cases
- Salary or pension income without business/profession income
- Income from more than two house properties
- Short-term or long-term capital gains
- Agricultural income exceeding ₹5,000
- Specified other-source income, including listed winnings where applicable
- Total income above ₹50 lakh
- Individual who is a director in a company
- Individual holding unlisted equity shares during the relevant previous year
Eligibility Must Be Checked First
- Individual or HUF status
- Residential status and relevant disclosure requirements
- No income chargeable under business/profession
- Capital-gain position
- House-property count and income
- Foreign asset / foreign income position
- Unlisted equity and directorship status
- Applicable schedules and disclosure requirements
Who Cannot Use ITR-2?
ITR-2 is not a general-purpose return for taxpayers having business or professional income. The Income Tax Department states that ITR-2 cannot be filed by an individual or HUF whose total income includes income from profits and gains of business or profession, including specified interest, salary, bonus, commission or remuneration from a firm that is taxable under that head. Such taxpayers need to consider the appropriate return form based on their facts.
ITR-2 Income & Disclosure Areas
| Area / Schedule | Typical Information | GSTBUY Review |
|---|---|---|
| Part A – General | PAN, personal information, contact details, filing status, residential status and bank details. | Check pre-filled information and update editable fields through the form/profile where required. |
| Salary / Pension | Salary, pension, employer details, taxable components and TDS information. | Reconcile Form 16 and salary records with portal data and tax credits. |
| House Property | Income or loss from house properties, including more than two properties where applicable. | Review ownership, rent, interest and property-specific information. |
| Capital Gains | Short-term and long-term capital gains from eligible transfers of capital assets. | Reconcile sale/purchase records, broker statements, transaction dates, cost and applicable tax treatment. |
| Other Sources | Interest, dividend, family pension and other-source income, including specified winnings where applicable. | Compare AIS, bank statements, certificates and supporting records. |
| Foreign Sources / Assets | Applicable foreign income, foreign assets and related disclosures for eligible taxpayers. | Review foreign-source records and required schedules before filing. |
| Tax Paid | TDS, TCS, advance tax and self-assessment tax. | Reconcile credits with AIS, Form 26AS and challans. |
| Tax Liability / Refund | Tax, rebate, interest, fee and refund/demand position. | Review the final portal computation before submission and verification. |
Capital Gains — Detailed ITR-2 Review
Capital gains are one of the most important reasons an eligible taxpayer may need ITR-2 instead of ITR-1. The ITR-2 capital-gains schedule can cover short-term and long-term gains, subject to the relevant rules and disclosures. For AY 2026-27, the Income Tax Department's FAQ states that the earlier requirement to bifurcate capital gains based on transfers before and after 23 July 2024 has been removed, and the applicable AY 2026-27 rates should be used.
House Property Income in ITR-2
Unlike ITR-1's limited house-property eligibility, ITR-2 can be used for income from more than two house properties, provided the taxpayer otherwise meets ITR-2 conditions. The schedule can involve self-occupied, let-out or deemed-let-out property information, rental details, municipal-tax treatment where relevant, interest on borrowed capital and resulting income or loss as prescribed by the form and law.
Salary, Pension & Form 16 Review
Salary and pension income can still form part of ITR-2. The correct preparation should reconcile Form 16, salary records, pension records where applicable, employer information and TDS with the information displayed by the Income Tax Department.
Other Sources of Income
ITR-2 can report a wider range of other-source income than ITR-1, subject to the form and tax rules. The Department's AY 2026-27 ITR-2 guidance expressly includes other sources such as winnings from lotteries, racehorses, betting and gambling. All applicable income should be identified and reported using the relevant schedule and tax treatment.
Foreign Assets, Foreign Income & Related Disclosures
ITR-2 can be relevant where foreign assets or foreign income are involved and the taxpayer otherwise meets the form conditions. Such disclosures require careful review of the applicable schedules, residential status and supporting records. Foreign-source income may also require related tax-credit or relief information where applicable.
Information to Organise
- Nature and location of foreign asset
- Account / investment details where applicable
- Foreign-source income
- Relevant dates and ownership information
- Foreign tax paid, where applicable
- Supporting statements and documents
GSTBUY Review Focus
- Residential-status check
- Schedule applicability
- Consistency with source records
- Foreign income reconciliation
- Applicable tax-credit / relief review
- Final disclosure validation
Director Status & Unlisted Equity Shares
The Income Tax Department specifically states that an individual who is a director in a company, or who held unlisted equity shares at any time during the relevant previous year, is required to furnish ITR-2 where the other conditions of the form are satisfied. These disclosures should be checked before selecting ITR-1.
AIS, Form 26AS & Pre-Filled Data Reconciliation
ITR-2 preparation should not rely only on pre-filled information. GSTBUY recommends reconciling the portal data with Form 16, Form 16A, AIS, Form 26AS, bank statements, broker statements, property records and other source documents. The Income Tax Department's guidance also directs taxpayers to check AIS and Form 26AS and reconcile discrepancies with the relevant employer, deductor, bank or other reporting source.
Core Reconciliation
- Form 16 salary and TDS
- Form 16A and non-salary TDS
- AIS reported transactions
- Form 26AS tax credits
- Bank interest and dividend
- Capital-gain transaction statements
- Property income
- Tax payments and challans
When There Is a Difference
- Identify the reporting source
- Compare the underlying transaction
- Contact the relevant deductor/reporting entity if required
- Retain evidence supporting the final disclosure
- Do not blindly accept or reject pre-filled information
Documents & Information Required for ITR-2
The Income Tax Department's ITR-2 FAQ lists supporting information such as Form 16 for salary income and Form 16A for certain TDS on interest. Because ITR-2 can include capital gains, house property, foreign assets and other disclosures, the document set depends on the taxpayer's actual profile. ITR forms are generally prepared without attaching supporting documents, but taxpayers should retain their records.
Old Tax Regime vs New Tax Regime
The Income Tax Department's current ITR-2 user manual states that for AY 2026-27 the New Tax Regime is the default and the relevant filing section shows the applicable selection. A taxpayer who wants to opt out of the New Tax Regime can select the appropriate option and complete the required residential-status information, subject to the law and eligibility.
| Review Point | New Tax Regime | Old Tax Regime |
|---|---|---|
| Default for AY 2026-27 | Default tax regime under the current ITR-2 portal manual. | Requires the applicable opt-out/selection where permitted. |
| Deductions / Exemptions | Certain deductions and exemptions are restricted or unavailable depending on the provision. | More deductions/exemptions may be available where the taxpayer satisfies the relevant conditions. |
| Tax Computation | Use the applicable AY 2026-27 rates and rules. | Use the applicable old-regime rates and rules. |
| GSTBUY Review | Compare the taxpayer's actual income, eligible deductions and resulting tax before finalising the regime selection. | |
AY 2026-27 Tax Slabs — New Regime
The Income Tax Department's current ITR-2 FAQ lists the AY 2026-27 new-regime slab structure as follows. These figures are included for information and should be checked against the applicable current portal computation before filing.
| Taxable Income Range | New-Regime Rate | Review Note |
|---|---|---|
| Up to ₹4,00,000 | Nil | Apply the current statutory rules and portal computation. |
| ₹4,00,001 – ₹8,00,000 | 5% | Slab applies to the relevant portion of taxable income. |
| ₹8,00,001 – ₹12,00,000 | 10% | Review rebate eligibility separately. |
| ₹12,00,001 – ₹16,00,000 | 15% | Use the applicable AY computation. |
| ₹16,00,001 – ₹20,00,000 | 20% | Use the applicable AY computation. |
| ₹20,00,001 – ₹24,00,000 | 25% | Use the applicable AY computation. |
| Above ₹24,00,000 | 30% | Surcharge/cess and special-rate income require separate review where applicable. |
ITR-2 Filing Process Through the Income Tax Portal
Official Portal Workflow — Step by Step
The current Income Tax Department ITR-2 user manual describes the online route as logging in to the e-Filing portal, selecting e-File → Income Tax Returns → File Income Tax Return, selecting Assessment Year 2026-27, choosing Online mode, selecting the applicable taxpayer status and ITR-2, reviewing the document list, selecting the filing reason, validating pre-filled information, entering/editing applicable schedules and then proceeding to verification.
Tax Computation, TDS/TCS & Refund
After the applicable schedules are completed, the return computes the taxpayer's income and tax position. GSTBUY recommends checking TDS, TCS, advance tax and self-assessment tax against AIS, Form 26AS and challans before final submission. If a refund is due, the taxpayer should maintain appropriate bank-account details on the e-Filing portal.
Validation, Preview & e-Verification
The ITR-2 workflow includes validation before final submission. The taxpayer should correct errors, preview the completed return and then complete the verification process. The Income Tax Department provides online e-Verification methods and also supports the applicable ITR-V process where verification is completed through the prescribed route.
PAN, Aadhaar & Bank Account Checks
Before filing, GSTBUY recommends checking PAN status, profile information, residential status, contact details and bank-account information. The exact fields that can be edited in the return versus the e-Filing profile depend on the current portal workflow.
Common ITR-2 Filing Errors to Avoid
GSTBUY ITR-2 Filing Service
GSTBUY provides structured ITR-2 preparation and filing-support assistance for eligible Individuals and HUFs. The service focuses on form selection, source-document review, capital-gain and property reconciliation, tax-credit checks, applicable disclosures, portal validation and verification support.
Our Review Includes
- ITR-2 eligibility screening
- Income and document checklist
- Form 16 / 16A / AIS / 26AS reconciliation
- Capital-gain transaction review
- House-property review
- Foreign asset/income disclosure review where applicable
- Tax-regime comparison
- Validation and e-Verification guidance
Suitable For
- Individuals not eligible for ITR-1
- HUFs without business/profession income
- Taxpayers with capital gains
- Taxpayers with more than two house properties
- Eligible taxpayers with foreign assets/income
- Eligible directors / unlisted-equity holders
Frequently Asked Questions
What is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession and who require a return form broader than ITR-1.
Who can file ITR-2 for AY 2026-27?
The Income Tax Department states that Individuals, whether Resident or Non-Resident, and HUFs can use ITR-2 where they have eligible income such as salary/pension, house property, capital gains or specified other-source income and do not have business/profession income.
Is there a ₹50 lakh income limit for ITR-2?
No. The Department states that ITR-2 can be filed irrespective of the quantum of total income, including cases where total income exceeds ₹50 lakh, subject to the other conditions.
Can an NRI file ITR-2?
Yes, ITR-2 can apply to an Individual who is Resident or Non-Resident, provided the other ITR-2 conditions are satisfied.
Can ITR-2 be used for business income?
No. Income chargeable under Profits and Gains of Business or Profession is outside ITR-2. The taxpayer should consider the appropriate form based on the business/profession facts.
Can ITR-2 report capital gains?
Yes. Capital gains, including short-term and long-term capital gains, are specifically covered by ITR-2 subject to the applicable rules and schedules.
Can ITR-2 cover more than two house properties?
Yes. The Income Tax Department's AY 2026-27 guidance specifically states that ITR-2 can cover income from more than two house properties.
Does ITR-2 apply to company directors?
The Department states that an individual who is a director in a company is required to furnish ITR-2 where the other conditions of the form are satisfied.
What if I hold unlisted equity shares?
The Department states that an individual who held unlisted equity shares at any time during the relevant previous year is required to furnish ITR-2 where applicable.
Should I check AIS and Form 26AS?
Yes. Reconciliation of AIS, Form 26AS and the underlying records is an important pre-filing control for income and tax-credit accuracy.
Which tax regime is the default for AY 2026-27?
The current ITR-2 user manual states that the New Tax Regime is the default for AY 2026-27. Taxpayers who wish to opt out should follow the applicable portal process and legal conditions.
Can GSTBUY guarantee a refund or tax outcome?
No. GSTBUY can provide preparation and filing-support assistance, but the final tax liability, refund, processing and determination remain subject to the Income Tax Department and applicable law.
Need Help With ITR-2 Return Filing?
Share your ITR-2 income and tax documents with GSTBUY for structured preparation, capital-gain and property review, reconciliation, tax-regime review and filing-support assistance.
Start ITR-2 Return Filing →Information on this page is prepared with reference to current Income Tax Department / e-Filing portal guidance for AY 2026-27. Tax rules, forms, utilities, schemas, validations and portal workflows can change; the applicable Assessment Year rules should be checked before filing.
ITR-2 Return Filing
Professional ITR-2 return filing support for eligible individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession, including cases involving capital gains, multiple house properties, foreign assets or income, unlisted equity, director status and other ITR-1 exclusions.
ITR-2 — Complete Income Tax Return Filing Support
GSTBUY helps eligible taxpayers organise ITR-2 information, reconcile pre-filled data and tax credits, review capital gains and house-property schedules, check applicable disclosures and complete the Income Tax e-Filing workflow before verification.
What Is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and Hindu Undivided Families (HUFs) who do not have income chargeable under the head “Profits and Gains of Business or Profession”. For AY 2026-27, the Income Tax Department states that ITR-2 can cover salary or pension, house property, capital gains and specified other-source income, including cases where total income exceeds ₹50 lakh.
ITR-2 is broader than ITR-1. It is commonly relevant where a taxpayer has capital gains, more than two house properties, agricultural income above ₹5,000, director status, unlisted equity holdings, or other circumstances that make ITR-1 unavailable while business/profession income is absent.
Who Can File ITR-2 for AY 2026-27?
The Income Tax Department's current AY 2026-27 guidance says ITR-2 is applicable to Individuals, whether Resident or Non-Resident, and HUFs deriving income other than income chargeable under the head Profits and Gains of Business or Profession. The Department specifically lists salary/pension, house property including more than two properties, capital gains, other sources including specified winnings, and agricultural income exceeding ₹5,000 among the situations covered.
Common ITR-2 Cases
- Salary or pension income without business/profession income
- Income from more than two house properties
- Short-term or long-term capital gains
- Agricultural income exceeding ₹5,000
- Specified other-source income, including listed winnings where applicable
- Total income above ₹50 lakh
- Individual who is a director in a company
- Individual holding unlisted equity shares during the relevant previous year
Eligibility Must Be Checked First
- Individual or HUF status
- Residential status and relevant disclosure requirements
- No income chargeable under business/profession
- Capital-gain position
- House-property count and income
- Foreign asset / foreign income position
- Unlisted equity and directorship status
- Applicable schedules and disclosure requirements
Who Cannot Use ITR-2?
ITR-2 is not a general-purpose return for taxpayers having business or professional income. The Income Tax Department states that ITR-2 cannot be filed by an individual or HUF whose total income includes income from profits and gains of business or profession, including specified interest, salary, bonus, commission or remuneration from a firm that is taxable under that head. Such taxpayers need to consider the appropriate return form based on their facts.
ITR-2 Income & Disclosure Areas
| Area / Schedule | Typical Information | GSTBUY Review |
|---|---|---|
| Part A – General | PAN, personal information, contact details, filing status, residential status and bank details. | Check pre-filled information and update editable fields through the form/profile where required. |
| Salary / Pension | Salary, pension, employer details, taxable components and TDS information. | Reconcile Form 16 and salary records with portal data and tax credits. |
| House Property | Income or loss from house properties, including more than two properties where applicable. | Review ownership, rent, interest and property-specific information. |
| Capital Gains | Short-term and long-term capital gains from eligible transfers of capital assets. | Reconcile sale/purchase records, broker statements, transaction dates, cost and applicable tax treatment. |
| Other Sources | Interest, dividend, family pension and other-source income, including specified winnings where applicable. | Compare AIS, bank statements, certificates and supporting records. |
| Foreign Sources / Assets | Applicable foreign income, foreign assets and related disclosures for eligible taxpayers. | Review foreign-source records and required schedules before filing. |
| Tax Paid | TDS, TCS, advance tax and self-assessment tax. | Reconcile credits with AIS, Form 26AS and challans. |
| Tax Liability / Refund | Tax, rebate, interest, fee and refund/demand position. | Review the final portal computation before submission and verification. |
Capital Gains — Detailed ITR-2 Review
Capital gains are one of the most important reasons an eligible taxpayer may need ITR-2 instead of ITR-1. The ITR-2 capital-gains schedule can cover short-term and long-term gains, subject to the relevant rules and disclosures. For AY 2026-27, the Income Tax Department's FAQ states that the earlier requirement to bifurcate capital gains based on transfers before and after 23 July 2024 has been removed, and the applicable AY 2026-27 rates should be used.
House Property Income in ITR-2
Unlike ITR-1's limited house-property eligibility, ITR-2 can be used for income from more than two house properties, provided the taxpayer otherwise meets ITR-2 conditions. The schedule can involve self-occupied, let-out or deemed-let-out property information, rental details, municipal-tax treatment where relevant, interest on borrowed capital and resulting income or loss as prescribed by the form and law.
Salary, Pension & Form 16 Review
Salary and pension income can still form part of ITR-2. The correct preparation should reconcile Form 16, salary records, pension records where applicable, employer information and TDS with the information displayed by the Income Tax Department.
Other Sources of Income
ITR-2 can report a wider range of other-source income than ITR-1, subject to the form and tax rules. The Department's AY 2026-27 ITR-2 guidance expressly includes other sources such as winnings from lotteries, racehorses, betting and gambling. All applicable income should be identified and reported using the relevant schedule and tax treatment.
Foreign Assets, Foreign Income & Related Disclosures
ITR-2 can be relevant where foreign assets or foreign income are involved and the taxpayer otherwise meets the form conditions. Such disclosures require careful review of the applicable schedules, residential status and supporting records. Foreign-source income may also require related tax-credit or relief information where applicable.
Information to Organise
- Nature and location of foreign asset
- Account / investment details where applicable
- Foreign-source income
- Relevant dates and ownership information
- Foreign tax paid, where applicable
- Supporting statements and documents
GSTBUY Review Focus
- Residential-status check
- Schedule applicability
- Consistency with source records
- Foreign income reconciliation
- Applicable tax-credit / relief review
- Final disclosure validation
Director Status & Unlisted Equity Shares
The Income Tax Department specifically states that an individual who is a director in a company, or who held unlisted equity shares at any time during the relevant previous year, is required to furnish ITR-2 where the other conditions of the form are satisfied. These disclosures should be checked before selecting ITR-1.
AIS, Form 26AS & Pre-Filled Data Reconciliation
ITR-2 preparation should not rely only on pre-filled information. GSTBUY recommends reconciling the portal data with Form 16, Form 16A, AIS, Form 26AS, bank statements, broker statements, property records and other source documents. The Income Tax Department's guidance also directs taxpayers to check AIS and Form 26AS and reconcile discrepancies with the relevant employer, deductor, bank or other reporting source.
Core Reconciliation
- Form 16 salary and TDS
- Form 16A and non-salary TDS
- AIS reported transactions
- Form 26AS tax credits
- Bank interest and dividend
- Capital-gain transaction statements
- Property income
- Tax payments and challans
When There Is a Difference
- Identify the reporting source
- Compare the underlying transaction
- Contact the relevant deductor/reporting entity if required
- Retain evidence supporting the final disclosure
- Do not blindly accept or reject pre-filled information
Documents & Information Required for ITR-2
The Income Tax Department's ITR-2 FAQ lists supporting information such as Form 16 for salary income and Form 16A for certain TDS on interest. Because ITR-2 can include capital gains, house property, foreign assets and other disclosures, the document set depends on the taxpayer's actual profile. ITR forms are generally prepared without attaching supporting documents, but taxpayers should retain their records.
Old Tax Regime vs New Tax Regime
The Income Tax Department's current ITR-2 user manual states that for AY 2026-27 the New Tax Regime is the default and the relevant filing section shows the applicable selection. A taxpayer who wants to opt out of the New Tax Regime can select the appropriate option and complete the required residential-status information, subject to the law and eligibility.
| Review Point | New Tax Regime | Old Tax Regime |
|---|---|---|
| Default for AY 2026-27 | Default tax regime under the current ITR-2 portal manual. | Requires the applicable opt-out/selection where permitted. |
| Deductions / Exemptions | Certain deductions and exemptions are restricted or unavailable depending on the provision. | More deductions/exemptions may be available where the taxpayer satisfies the relevant conditions. |
| Tax Computation | Use the applicable AY 2026-27 rates and rules. | Use the applicable old-regime rates and rules. |
| GSTBUY Review | Compare the taxpayer's actual income, eligible deductions and resulting tax before finalising the regime selection. | |
AY 2026-27 Tax Slabs — New Regime
The Income Tax Department's current ITR-2 FAQ lists the AY 2026-27 new-regime slab structure as follows. These figures are included for information and should be checked against the applicable current portal computation before filing.
| Taxable Income Range | New-Regime Rate | Review Note |
|---|---|---|
| Up to ₹4,00,000 | Nil | Apply the current statutory rules and portal computation. |
| ₹4,00,001 – ₹8,00,000 | 5% | Slab applies to the relevant portion of taxable income. |
| ₹8,00,001 – ₹12,00,000 | 10% | Review rebate eligibility separately. |
| ₹12,00,001 – ₹16,00,000 | 15% | Use the applicable AY computation. |
| ₹16,00,001 – ₹20,00,000 | 20% | Use the applicable AY computation. |
| ₹20,00,001 – ₹24,00,000 | 25% | Use the applicable AY computation. |
| Above ₹24,00,000 | 30% | Surcharge/cess and special-rate income require separate review where applicable. |
ITR-2 Filing Process Through the Income Tax Portal
Official Portal Workflow — Step by Step
The current Income Tax Department ITR-2 user manual describes the online route as logging in to the e-Filing portal, selecting e-File → Income Tax Returns → File Income Tax Return, selecting Assessment Year 2026-27, choosing Online mode, selecting the applicable taxpayer status and ITR-2, reviewing the document list, selecting the filing reason, validating pre-filled information, entering/editing applicable schedules and then proceeding to verification.
Tax Computation, TDS/TCS & Refund
After the applicable schedules are completed, the return computes the taxpayer's income and tax position. GSTBUY recommends checking TDS, TCS, advance tax and self-assessment tax against AIS, Form 26AS and challans before final submission. If a refund is due, the taxpayer should maintain appropriate bank-account details on the e-Filing portal.
Validation, Preview & e-Verification
The ITR-2 workflow includes validation before final submission. The taxpayer should correct errors, preview the completed return and then complete the verification process. The Income Tax Department provides online e-Verification methods and also supports the applicable ITR-V process where verification is completed through the prescribed route.
PAN, Aadhaar & Bank Account Checks
Before filing, GSTBUY recommends checking PAN status, profile information, residential status, contact details and bank-account information. The exact fields that can be edited in the return versus the e-Filing profile depend on the current portal workflow.
Common ITR-2 Filing Errors to Avoid
GSTBUY ITR-2 Filing Service
GSTBUY provides structured ITR-2 preparation and filing-support assistance for eligible Individuals and HUFs. The service focuses on form selection, source-document review, capital-gain and property reconciliation, tax-credit checks, applicable disclosures, portal validation and verification support.
Our Review Includes
- ITR-2 eligibility screening
- Income and document checklist
- Form 16 / 16A / AIS / 26AS reconciliation
- Capital-gain transaction review
- House-property review
- Foreign asset/income disclosure review where applicable
- Tax-regime comparison
- Validation and e-Verification guidance
Suitable For
- Individuals not eligible for ITR-1
- HUFs without business/profession income
- Taxpayers with capital gains
- Taxpayers with more than two house properties
- Eligible taxpayers with foreign assets/income
- Eligible directors / unlisted-equity holders
Frequently Asked Questions
What is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession and who require a return form broader than ITR-1.
Who can file ITR-2 for AY 2026-27?
The Income Tax Department states that Individuals, whether Resident or Non-Resident, and HUFs can use ITR-2 where they have eligible income such as salary/pension, house property, capital gains or specified other-source income and do not have business/profession income.
Is there a ₹50 lakh income limit for ITR-2?
No. The Department states that ITR-2 can be filed irrespective of the quantum of total income, including cases where total income exceeds ₹50 lakh, subject to the other conditions.
Can an NRI file ITR-2?
Yes, ITR-2 can apply to an Individual who is Resident or Non-Resident, provided the other ITR-2 conditions are satisfied.
Can ITR-2 be used for business income?
No. Income chargeable under Profits and Gains of Business or Profession is outside ITR-2. The taxpayer should consider the appropriate form based on the business/profession facts.
Can ITR-2 report capital gains?
Yes. Capital gains, including short-term and long-term capital gains, are specifically covered by ITR-2 subject to the applicable rules and schedules.
Can ITR-2 cover more than two house properties?
Yes. The Income Tax Department's AY 2026-27 guidance specifically states that ITR-2 can cover income from more than two house properties.
Does ITR-2 apply to company directors?
The Department states that an individual who is a director in a company is required to furnish ITR-2 where the other conditions of the form are satisfied.
What if I hold unlisted equity shares?
The Department states that an individual who held unlisted equity shares at any time during the relevant previous year is required to furnish ITR-2 where applicable.
Should I check AIS and Form 26AS?
Yes. Reconciliation of AIS, Form 26AS and the underlying records is an important pre-filing control for income and tax-credit accuracy.
Which tax regime is the default for AY 2026-27?
The current ITR-2 user manual states that the New Tax Regime is the default for AY 2026-27. Taxpayers who wish to opt out should follow the applicable portal process and legal conditions.
Can GSTBUY guarantee a refund or tax outcome?
No. GSTBUY can provide preparation and filing-support assistance, but the final tax liability, refund, processing and determination remain subject to the Income Tax Department and applicable law.
Need Help With ITR-2 Return Filing?
Share your ITR-2 income and tax documents with GSTBUY for structured preparation, capital-gain and property review, reconciliation, tax-regime review and filing-support assistance.
Start ITR-2 Return Filing →Information on this page is prepared with reference to current Income Tax Department / e-Filing portal guidance for AY 2026-27. Tax rules, forms, utilities, schemas, validations and portal workflows can change; the applicable Assessment Year rules should be checked before filing.
ITR-2 Return Filing
Professional ITR-2 return filing support for eligible individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession, including cases involving capital gains, multiple house properties, foreign assets or income, unlisted equity, director status and other ITR-1 exclusions.
ITR-2 — Complete Income Tax Return Filing Support
GSTBUY helps eligible taxpayers organise ITR-2 information, reconcile pre-filled data and tax credits, review capital gains and house-property schedules, check applicable disclosures and complete the Income Tax e-Filing workflow before verification.
What Is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and Hindu Undivided Families (HUFs) who do not have income chargeable under the head “Profits and Gains of Business or Profession”. For AY 2026-27, the Income Tax Department states that ITR-2 can cover salary or pension, house property, capital gains and specified other-source income, including cases where total income exceeds ₹50 lakh.
ITR-2 is broader than ITR-1. It is commonly relevant where a taxpayer has capital gains, more than two house properties, agricultural income above ₹5,000, director status, unlisted equity holdings, or other circumstances that make ITR-1 unavailable while business/profession income is absent.
Who Can File ITR-2 for AY 2026-27?
The Income Tax Department's current AY 2026-27 guidance says ITR-2 is applicable to Individuals, whether Resident or Non-Resident, and HUFs deriving income other than income chargeable under the head Profits and Gains of Business or Profession. The Department specifically lists salary/pension, house property including more than two properties, capital gains, other sources including specified winnings, and agricultural income exceeding ₹5,000 among the situations covered.
Common ITR-2 Cases
- Salary or pension income without business/profession income
- Income from more than two house properties
- Short-term or long-term capital gains
- Agricultural income exceeding ₹5,000
- Specified other-source income, including listed winnings where applicable
- Total income above ₹50 lakh
- Individual who is a director in a company
- Individual holding unlisted equity shares during the relevant previous year
Eligibility Must Be Checked First
- Individual or HUF status
- Residential status and relevant disclosure requirements
- No income chargeable under business/profession
- Capital-gain position
- House-property count and income
- Foreign asset / foreign income position
- Unlisted equity and directorship status
- Applicable schedules and disclosure requirements
Who Cannot Use ITR-2?
ITR-2 is not a general-purpose return for taxpayers having business or professional income. The Income Tax Department states that ITR-2 cannot be filed by an individual or HUF whose total income includes income from profits and gains of business or profession, including specified interest, salary, bonus, commission or remuneration from a firm that is taxable under that head. Such taxpayers need to consider the appropriate return form based on their facts.
ITR-2 Income & Disclosure Areas
| Area / Schedule | Typical Information | GSTBUY Review |
|---|---|---|
| Part A – General | PAN, personal information, contact details, filing status, residential status and bank details. | Check pre-filled information and update editable fields through the form/profile where required. |
| Salary / Pension | Salary, pension, employer details, taxable components and TDS information. | Reconcile Form 16 and salary records with portal data and tax credits. |
| House Property | Income or loss from house properties, including more than two properties where applicable. | Review ownership, rent, interest and property-specific information. |
| Capital Gains | Short-term and long-term capital gains from eligible transfers of capital assets. | Reconcile sale/purchase records, broker statements, transaction dates, cost and applicable tax treatment. |
| Other Sources | Interest, dividend, family pension and other-source income, including specified winnings where applicable. | Compare AIS, bank statements, certificates and supporting records. |
| Foreign Sources / Assets | Applicable foreign income, foreign assets and related disclosures for eligible taxpayers. | Review foreign-source records and required schedules before filing. |
| Tax Paid | TDS, TCS, advance tax and self-assessment tax. | Reconcile credits with AIS, Form 26AS and challans. |
| Tax Liability / Refund | Tax, rebate, interest, fee and refund/demand position. | Review the final portal computation before submission and verification. |
Capital Gains — Detailed ITR-2 Review
Capital gains are one of the most important reasons an eligible taxpayer may need ITR-2 instead of ITR-1. The ITR-2 capital-gains schedule can cover short-term and long-term gains, subject to the relevant rules and disclosures. For AY 2026-27, the Income Tax Department's FAQ states that the earlier requirement to bifurcate capital gains based on transfers before and after 23 July 2024 has been removed, and the applicable AY 2026-27 rates should be used.
House Property Income in ITR-2
Unlike ITR-1's limited house-property eligibility, ITR-2 can be used for income from more than two house properties, provided the taxpayer otherwise meets ITR-2 conditions. The schedule can involve self-occupied, let-out or deemed-let-out property information, rental details, municipal-tax treatment where relevant, interest on borrowed capital and resulting income or loss as prescribed by the form and law.
Salary, Pension & Form 16 Review
Salary and pension income can still form part of ITR-2. The correct preparation should reconcile Form 16, salary records, pension records where applicable, employer information and TDS with the information displayed by the Income Tax Department.
Other Sources of Income
ITR-2 can report a wider range of other-source income than ITR-1, subject to the form and tax rules. The Department's AY 2026-27 ITR-2 guidance expressly includes other sources such as winnings from lotteries, racehorses, betting and gambling. All applicable income should be identified and reported using the relevant schedule and tax treatment.
Foreign Assets, Foreign Income & Related Disclosures
ITR-2 can be relevant where foreign assets or foreign income are involved and the taxpayer otherwise meets the form conditions. Such disclosures require careful review of the applicable schedules, residential status and supporting records. Foreign-source income may also require related tax-credit or relief information where applicable.
Information to Organise
- Nature and location of foreign asset
- Account / investment details where applicable
- Foreign-source income
- Relevant dates and ownership information
- Foreign tax paid, where applicable
- Supporting statements and documents
GSTBUY Review Focus
- Residential-status check
- Schedule applicability
- Consistency with source records
- Foreign income reconciliation
- Applicable tax-credit / relief review
- Final disclosure validation
Director Status & Unlisted Equity Shares
The Income Tax Department specifically states that an individual who is a director in a company, or who held unlisted equity shares at any time during the relevant previous year, is required to furnish ITR-2 where the other conditions of the form are satisfied. These disclosures should be checked before selecting ITR-1.
AIS, Form 26AS & Pre-Filled Data Reconciliation
ITR-2 preparation should not rely only on pre-filled information. GSTBUY recommends reconciling the portal data with Form 16, Form 16A, AIS, Form 26AS, bank statements, broker statements, property records and other source documents. The Income Tax Department's guidance also directs taxpayers to check AIS and Form 26AS and reconcile discrepancies with the relevant employer, deductor, bank or other reporting source.
Core Reconciliation
- Form 16 salary and TDS
- Form 16A and non-salary TDS
- AIS reported transactions
- Form 26AS tax credits
- Bank interest and dividend
- Capital-gain transaction statements
- Property income
- Tax payments and challans
When There Is a Difference
- Identify the reporting source
- Compare the underlying transaction
- Contact the relevant deductor/reporting entity if required
- Retain evidence supporting the final disclosure
- Do not blindly accept or reject pre-filled information
Documents & Information Required for ITR-2
The Income Tax Department's ITR-2 FAQ lists supporting information such as Form 16 for salary income and Form 16A for certain TDS on interest. Because ITR-2 can include capital gains, house property, foreign assets and other disclosures, the document set depends on the taxpayer's actual profile. ITR forms are generally prepared without attaching supporting documents, but taxpayers should retain their records.
Old Tax Regime vs New Tax Regime
The Income Tax Department's current ITR-2 user manual states that for AY 2026-27 the New Tax Regime is the default and the relevant filing section shows the applicable selection. A taxpayer who wants to opt out of the New Tax Regime can select the appropriate option and complete the required residential-status information, subject to the law and eligibility.
| Review Point | New Tax Regime | Old Tax Regime |
|---|---|---|
| Default for AY 2026-27 | Default tax regime under the current ITR-2 portal manual. | Requires the applicable opt-out/selection where permitted. |
| Deductions / Exemptions | Certain deductions and exemptions are restricted or unavailable depending on the provision. | More deductions/exemptions may be available where the taxpayer satisfies the relevant conditions. |
| Tax Computation | Use the applicable AY 2026-27 rates and rules. | Use the applicable old-regime rates and rules. |
| GSTBUY Review | Compare the taxpayer's actual income, eligible deductions and resulting tax before finalising the regime selection. | |
AY 2026-27 Tax Slabs — New Regime
The Income Tax Department's current ITR-2 FAQ lists the AY 2026-27 new-regime slab structure as follows. These figures are included for information and should be checked against the applicable current portal computation before filing.
| Taxable Income Range | New-Regime Rate | Review Note |
|---|---|---|
| Up to ₹4,00,000 | Nil | Apply the current statutory rules and portal computation. |
| ₹4,00,001 – ₹8,00,000 | 5% | Slab applies to the relevant portion of taxable income. |
| ₹8,00,001 – ₹12,00,000 | 10% | Review rebate eligibility separately. |
| ₹12,00,001 – ₹16,00,000 | 15% | Use the applicable AY computation. |
| ₹16,00,001 – ₹20,00,000 | 20% | Use the applicable AY computation. |
| ₹20,00,001 – ₹24,00,000 | 25% | Use the applicable AY computation. |
| Above ₹24,00,000 | 30% | Surcharge/cess and special-rate income require separate review where applicable. |
ITR-2 Filing Process Through the Income Tax Portal
Official Portal Workflow — Step by Step
The current Income Tax Department ITR-2 user manual describes the online route as logging in to the e-Filing portal, selecting e-File → Income Tax Returns → File Income Tax Return, selecting Assessment Year 2026-27, choosing Online mode, selecting the applicable taxpayer status and ITR-2, reviewing the document list, selecting the filing reason, validating pre-filled information, entering/editing applicable schedules and then proceeding to verification.
Tax Computation, TDS/TCS & Refund
After the applicable schedules are completed, the return computes the taxpayer's income and tax position. GSTBUY recommends checking TDS, TCS, advance tax and self-assessment tax against AIS, Form 26AS and challans before final submission. If a refund is due, the taxpayer should maintain appropriate bank-account details on the e-Filing portal.
Validation, Preview & e-Verification
The ITR-2 workflow includes validation before final submission. The taxpayer should correct errors, preview the completed return and then complete the verification process. The Income Tax Department provides online e-Verification methods and also supports the applicable ITR-V process where verification is completed through the prescribed route.
PAN, Aadhaar & Bank Account Checks
Before filing, GSTBUY recommends checking PAN status, profile information, residential status, contact details and bank-account information. The exact fields that can be edited in the return versus the e-Filing profile depend on the current portal workflow.
Common ITR-2 Filing Errors to Avoid
GSTBUY ITR-2 Filing Service
GSTBUY provides structured ITR-2 preparation and filing-support assistance for eligible Individuals and HUFs. The service focuses on form selection, source-document review, capital-gain and property reconciliation, tax-credit checks, applicable disclosures, portal validation and verification support.
Our Review Includes
- ITR-2 eligibility screening
- Income and document checklist
- Form 16 / 16A / AIS / 26AS reconciliation
- Capital-gain transaction review
- House-property review
- Foreign asset/income disclosure review where applicable
- Tax-regime comparison
- Validation and e-Verification guidance
Suitable For
- Individuals not eligible for ITR-1
- HUFs without business/profession income
- Taxpayers with capital gains
- Taxpayers with more than two house properties
- Eligible taxpayers with foreign assets/income
- Eligible directors / unlisted-equity holders
Frequently Asked Questions
What is ITR-2?
ITR-2 is an income-tax return form for eligible Individuals and HUFs who do not have income chargeable under the head Profits and Gains of Business or Profession and who require a return form broader than ITR-1.
Who can file ITR-2 for AY 2026-27?
The Income Tax Department states that Individuals, whether Resident or Non-Resident, and HUFs can use ITR-2 where they have eligible income such as salary/pension, house property, capital gains or specified other-source income and do not have business/profession income.
Is there a ₹50 lakh income limit for ITR-2?
No. The Department states that ITR-2 can be filed irrespective of the quantum of total income, including cases where total income exceeds ₹50 lakh, subject to the other conditions.
Can an NRI file ITR-2?
Yes, ITR-2 can apply to an Individual who is Resident or Non-Resident, provided the other ITR-2 conditions are satisfied.
Can ITR-2 be used for business income?
No. Income chargeable under Profits and Gains of Business or Profession is outside ITR-2. The taxpayer should consider the appropriate form based on the business/profession facts.
Can ITR-2 report capital gains?
Yes. Capital gains, including short-term and long-term capital gains, are specifically covered by ITR-2 subject to the applicable rules and schedules.
Can ITR-2 cover more than two house properties?
Yes. The Income Tax Department's AY 2026-27 guidance specifically states that ITR-2 can cover income from more than two house properties.
Does ITR-2 apply to company directors?
The Department states that an individual who is a director in a company is required to furnish ITR-2 where the other conditions of the form are satisfied.
What if I hold unlisted equity shares?
The Department states that an individual who held unlisted equity shares at any time during the relevant previous year is required to furnish ITR-2 where applicable.
Should I check AIS and Form 26AS?
Yes. Reconciliation of AIS, Form 26AS and the underlying records is an important pre-filing control for income and tax-credit accuracy.
Which tax regime is the default for AY 2026-27?
The current ITR-2 user manual states that the New Tax Regime is the default for AY 2026-27. Taxpayers who wish to opt out should follow the applicable portal process and legal conditions.
Can GSTBUY guarantee a refund or tax outcome?
No. GSTBUY can provide preparation and filing-support assistance, but the final tax liability, refund, processing and determination remain subject to the Income Tax Department and applicable law.
Need Help With ITR-2 Return Filing?
Share your ITR-2 income and tax documents with GSTBUY for structured preparation, capital-gain and property review, reconciliation, tax-regime review and filing-support assistance.
Start ITR-2 Return Filing →Information on this page is prepared with reference to current Income Tax Department / e-Filing portal guidance for AY 2026-27. Tax rules, forms, utilities, schemas, validations and portal workflows can change; the applicable Assessment Year rules should be checked before filing.