What is ITR 2?
In India, taxpayers are categorized based on Income, and specific Income Tax Return (ITR) forms are assigned to individuals according to their income sources. Among these forms, ITR-2 is designated for individuals and Hindu Undivided Families who do not generate Income from professional or business activities.
Instructions for Completing the ITR-2 Form
When filling out the ITR-2 Form, it's important to follow these instructions and guidelines:
- Complete the form in the following order: Part A, all schedules, Part B-TI, Part B-TTI, and then the verification section.
- If any schedules do not apply to you, strike them out and mark 'NA' (Not Applicable).
- Use 'NA' against any item that doesn't pertain to your financial situation.
- Round off all figures to the nearest rupee, except for total income/loss and tax payable, which should be rounded off to the nearest ten rupees.
- Select 'Government' as your employer category if you are a government employee. If you work for a public sector company of the Central/State Government, choose 'PSU.'