FAQs
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Income Tax Return ( ITR ) Filing
Income Tax Return (ITR) Filing
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Saving Taxes
Saving Taxes
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Salary Income
Salary Income
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Income from House Property
Income from House Property
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Capital Gains
Capital Gains
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Set Off and Carry Forward of Losses
Set Off and Carry Forward of Losses
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Clubbing of Income
Clubbing of Income
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Computation Of Tax
Computation Of Tax
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Senior Citizens
Senior Citizens
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Non Resident / NRI
Non Resident / NRI
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Gifts received by an individual or HUF
Gifts received by an individual or HUF
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Tax Deducted at Source (TDS)
Tax Deducted at Source (TDS)
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Financial Planning
Financial Planning
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TAN
TAN
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Permanent Account Number(PAN)
Permanent Account Number (PAN)
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Assessments Under the Income Tax
Assessments Under the Income Tax
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Income Declaration Scheme 2016
Income Declaration Scheme 2016
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Goods and Services Tax (GST)
Goods and Services Tax (GST)
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Financial Transactions and Reportable Accounts
Financial Transactions and Reportable Accounts
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Tax audit
Tax audit
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Tax on Presumptive Taxation Scheme
Tax on Presumptive Taxation Scheme
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TDS Processing
TDS Processing
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Provisions useful for Non Resident
Provisions useful for Non Resident
Frequently Asked Questions For Goods and Services Tax
What is ITR 2?
The ITR-2 Form is the Income Tax Return form for Individuals and HUFs who do not have any income from Business or Profession.
If total income for an individual or a Hindu Undivided Family includes:
a) Income from Salary / Pension; or
b) Income from House Property; or
c) Income from Capital Gains; or
d) Income from Other Sources (including Winning from Lottery and Income from Race Horses).
Then ITR-2 should be used by an individual or a Hindu Undivided Family.
Note: In a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
a) Income from Salary / Pension; or
b) Income from House Property; or
c) Income from Capital Gains; or
d) Income from Other Sources (including Winning from Lottery and Income from Race Horses).
Then ITR-2 should be used by an individual or a Hindu Undivided Family.
Note: In a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
This Return Form should not be used by an Individual or a Hindu Undivided Family whose Total Income for assessment year includes Income from Business or Profession.
The presumptive income computed at the rate of Rs. 7,500 per goods vehicle per month and no further expenses will be allowed or disallowed.
However, in case of a taxpayer, being a partnership firm, opting for the presumptive taxation scheme, from the income computed at the rate of Rs. 7,500 per goods vehicle per month, further deduction can be claimed on account of remuneration and interest paid to partners (computed as per the Income-tax Act).
However, in case of a taxpayer, being a partnership firm, opting for the presumptive taxation scheme, from the income computed at the rate of Rs. 7,500 per goods vehicle per month, further deduction can be claimed on account of remuneration and interest paid to partners (computed as per the Income-tax Act).
