Udyog Suvidha Kendra
Capital Gains & Foreign Assets Filing

ITR-2 Filing
Simplified.

For Individuals & HUFs with Capital Gains, Foreign Income, or Multiple Properties. Expert-assisted filing ensures 100% compliance and maximum savings.

Satisfied NSDC Partner Verified Training Centre Registered Training Provider
+35k

Trusted by 35,000+ Businesses

Step 1/3

Start ITR-2 Filing in Karur

Fill in the form and complete process to receive your certificate.

100% Secure & Confidential

Note: We are India's fastest growing online business services platform dedicated to helping people to start and grow their business, at an affordable cost. Our aim is to help the entrepreneur with regulatory requirements, and offering support at every stage to ensure the business remains compliant and continually growing. We are Private Organization and providing services and assistance for Business Benefits who require consultation.

Overview

What is ITR-2 Filing in Karur?

ITR-2 is a comprehensive income tax return form designed for Individuals and Hindu Undivided Families (HUFs) whose income sources are more complex than simple salary or interest.

It is mandatory if you have income from Capital Gains (sale of property/shares), Foreign Assets/Income, or own more than one house property. Unlike ITR-1, it allows for detailed reporting of these high-value transactions, ensuring you stay compliant with tax laws.

Important Note

ITR-2 is NOT for individuals who have income from Business or Profession. For that, ITR-3 or ITR-4 is applicable.

ITR-2 Overview

Who Should File ITR-2 Filing in Karur?

Check if you fall under the eligibility criteria for this form.

Capital Gains

Income from sale of Property, Shares, Mutual Funds, or other capital assets (Short-term or Long-term).

Foreign Assets / Income

Holding foreign bank accounts, properties, or earning income from outside India.

Multiple Properties

Owning more than one house property, even if self-occupied or vacant.

Company Director

If you are a Director in any company (without business income from it).

Agricultural Income

Agricultural income exceeding ₹5,000.

Partnership Income

Income as a partner in a firm (excluding business/profession income share).

Ineligible Cases (Who Cannot File ITR-2 Filing in Karur)

ITR-2 Filing in Karur is applicable only to Individuals and Hindu Undivided Families (HUFs). Any other entity type or income structure outside this scope is not eligible to file this return.

Business Income

Income from Business/Profession (Use ITR-3/ITR-4).

Corporates

Companies, LLPs, or Trusts (Have separate forms).

Presumptive Tax

Opting for Section 44AD, 44ADA, 44AE (Use ITR-4).

Simple Income

Salary + 1 House + Interest < ₹50L (Use ITR-1).

Foreign Corporates

Foreign companies or corporate non-residents cannot file ITR-2 (only individuals/HUFs may use it).

Agricultural Income Only

If agriculture is the sole income source (above ₹5,000) with no taxable income, ITR-2 is not applicable.

Partnership Business Share

Partners earning business income from a firm must file ITR-3, not ITR-2.

Selecting the correct ITR form is critical. Filing ITR-2 Filing in Karur when ineligible may result in return rejection, notices, or delayed refunds.

Required Documents for Filing

Keep these records handy for accurate capital gains & foreign asset reporting.

Form 16 / 16A

Salary TDS certificate and TDS on other income.

Form 26AS & AIS/TIS

Tax credit statement and annual info statement.

Capital Gains Statements

Contract notes/statements for Shares, MF, Property.

Property Documents

Rental agreements, municipal tax receipts.

Foreign Asset Proofs

Details of global bank accounts & investments.

Bank Statements

For Savings/FD interest and checking cash flow.

Investment Proofs

80C, 80D receipts (LIC, PPF, Medical).

Home Loan Cert.

Certificate showing interest and principal components.

Challans

Proof of Advance Tax or Self-Assessment Tax paid.

Special Reporting Requirements

ITR-2 requires detailed reporting of capital gains and foreign assets. Understanding these requirements ensures compliance and prevents notices.

Capital Gains Reporting

Short-Term vs Long-Term

Capital gains are classified based on holding period. Assets held for less than 36 months (12 months for listed equity and equity mutual funds) result in Short-Term Capital Gains, while assets held beyond this period result in Long-Term Capital Gains.

Tax Rates & Classification

STCG on listed equity is taxed at 15% under Section 111A. LTCG on listed equity exceeding ₹1 lakh is taxed at 10%. Long-term gains from property are taxed at 20% with indexation. Correct classification ensures accurate tax computation.

Sale of Property, Shares or Mutual Funds

Sale of immovable property, listed shares, or mutual fund units must be reported under Schedule CG in ITR-2. Required details include purchase value, sale value, dates of acquisition and sale, transfer expenses, and indexed cost. These are cross-verified with AIS, TIS, and Form 26AS.

Exemptions (Sections 54, 54F, 54EC)

Capital gains exemptions can be claimed if gains are reinvested in residential property or specified bonds. Section 54 applies to residential property, Section 54F to non-residential assets, and Section 54EC allows investment in NHAI or REC bonds within 6 months. These must be declared in Schedule CG and Schedule EI.

Foreign Assets (Schedule FA)

Mandatory Disclosure

Resident taxpayers must disclose all foreign assets such as overseas bank accounts, shares, mutual funds, and property under Schedule FA, even if no income is earned.

Foreign Income Reporting

Income earned abroad including salary, rent, or dividends must be reported in ITR-2. Relief under Double Taxation Avoidance Agreements can be claimed under Sections 90 or 91.

Compliance Risk

Non-disclosure or incorrect reporting of foreign assets can attract severe penalties under the Black Money Act. Accurate disclosure is critical.

🚀 Apply for ITR-2 Return Filing with Expert Assistance

Accurate Capital Gain Computation
End-to-End Foreign Asset Disclosure
Faster Refunds & Zero Errors
Get Expert Assistance Now

Step-by-Step ITR-2 Filing in Karur Filing Process

A structured, compliance-ready process to file ITR-2 accurately and avoid notices.

1

Collect Required Documents

Gather Form 16, capital gains statements, AIS, interest certificates, dividend details, and foreign asset information if applicable. Ensure AIS and TIS reports are reviewed carefully, as they reflect income reported by banks, employers, and other institutions and are cross-checked by the Income Tax Department.

2

Login to Income Tax Portal

Access incometax.gov.in using your PAN credentials and navigate to the e-Filing section.

3

Select ITR-2 Filing in Karur Form

Choose the correct Assessment Year and select ITR-2 for individuals with capital gains or foreign income.

4

Report Income & Schedules

Fill schedules for salary, house property, capital gains, other sources, and foreign assets where applicable. Special attention is required while reporting capital gains from equity, mutual funds, or property to ensure correct holding period classification and tax computation.

5

Claim Deductions & Validate

Claim eligible deductions under Sections 80C, 80D, etc., and validate the return to eliminate errors. Use the portal’s built-in validation utility to identify missing fields, mismatches, or calculation errors before final submission.

✓

Submit & E-Verify

Submit the return and complete mandatory e-verification via Aadhaar OTP, net banking, or EVC to finalize filing. E-verification is mandatory for processing your return and issuing refunds. Returns not verified within the prescribed timeline are treated as invalid.

Important: Failure to e-verify within 30 days will render your ITR-2 invalid, requiring re-filing.

Due Dates & Late Filing Penalties

Missing deadlines can result in significant penalties and interest charges. Stay informed to avoid unnecessary costs.

Standard Due Date

31st July

For individuals and HUFs not liable to audit, the due date for filing ITR-2 is 31st July of the assessment year. Timely filing avoids penalties and speeds up refunds.

Late Filing Fee (Section 234F)

Up to ₹5,000

A penalty of ₹5,000 applies if income exceeds ₹5 lakh when filed late. For income up to ₹5 lakh, the penalty is limited to ₹1,000. These fees are mandatory and non-negotiable.

Interest on Tax Due

1% per Month

Section 234A:1% interest per month for delay in return filing. Section 234B:1% interest if 90% of advance tax is not paid. Section 234C:Interest for deferring or skipping advance tax. installments.These interest charges add up and can significantly increase tax liability.

Important Reminder

Filing your ITR-2 on time not only helps you avoid penalties but also ensures faster processing of refunds. Set reminders well before the deadline to gather all necessary documents and complete your filing without last-minute stress.

Common Mistakes

Filing ITR-2 requires precision, especially when dealing with capital gains, multiple properties, or foreign assets. Avoiding these common mistakes ensures accuracy, avoids penalties, and prevents scrutiny by the Income Tax Department.

Incorrect Capital Gain Calculations

Errors in capital gain calculation often include missing indexation, incorrect acquisition cost, or ignoring brokerage and transfer charges. Always compute gains carefully using Schedule CG and refer to capital gain statements provided by brokers.

Missing Foreign Income Declaration

Resident taxpayers with foreign bank accounts, property, or income must declare these under Schedule FA. Non-disclosure, even if the income is tax-exempt, can attract penalties under the Black Money Act.

Not Claiming Eligible Deductions

Failing to claim deductions under Sections 80C, 80D, or 80G can result in excess tax payment. Eligible deductions should be reviewed carefully and supported with proper documentation.

Using the Wrong ITR Form

Using ITR-1 or ITR-3 instead of ITR-2 can lead to return rejection or processing issues. ITR-2 is applicable for individuals with capital gains, multiple properties, foreign income, or income exceeding ₹50 lakh (without business income).

Failing to E-Verify the Return

Filing the return alone is not sufficient. If ITR is not e-verified within 30 days, it is treated as invalid. E-verification can be completed using Aadhaar OTP, Net Banking, or a Digital Signature.

TRUST & EXPERTISE

Why Choose Udyog Suvidha Kendra?

We combine professional accuracy, regulatory expertise, and dedicated support to ensure stress-free compliance for every client.

Accurate Computation

We handle complex capital gains, foreign income, and tax relief calculations with precision to ensure correct tax liability and maximum compliance.

Compliance & Risk Check

Every filing is cross-verified against AIS, TIS, and Form 26AS to prevent mismatches, notices, or future scrutiny.

Dedicated Expert Support

Get personalized assistance from experienced professionals — from document review to final filing and post-submission guidance.

Frequently Asked Questions

ITR-2 Filing in Different States

Andhra Pradesh Arunachal Pradesh Assam Bihar Chhattisgarh Goa Gujarat Haryana Himachal Pradesh Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Meghalaya Mizoram Nagaland Odisha Punjab Rajasthan Sikkim Tamil Nadu Telangana Tripura Uttar Pradesh Uttarakhand West Bengal Delhi Chandigarh Ladakh Lakshadweep Puducherry Jammu & Kashmir Andaman & Nicobar Dadra & Nagar Haveli

ITR-2 Filing in Major Cities

RELATED SERVICES
Proprietorship Partnership Nidhi Company Trust Registration Producer Company MCA Name Approval Section 8 Company One Person Company Private Limited Company Limited Liability Partnership Proprietor to LLP Proprietor to OPC Proprietor to Pvt Ltd Partnership to LLP Partnership to Pvt Ltd
CERTIFICATE SERVICES
GeM Registration Food Registration Udyam Registration ISO Registration PF Registration Barcode Registration Darpan Registration ZED Certification DSC Registration GST Registration Gumasta Registration ESI Registration RCMC Registration APEDA Registration BIS Registration FCRA Registration DOT OSP ISP License Startup India Registration 12A and 80G Registration Only 80G Registration Only 12A Registration ICEGATE Registration Import-Export Registration Tax Exemption Certificate RERA for Agents Professional Tax Registration
MCA SERVICES
ADT-1 Filing LLP Compliance OPC Compliance DIN eKYC Filing DIN Reactivation Director Change Share Transfer Demat of Shares PF Return Filing Company Compliance Remove Director ESI Return Filing Business Plan DPT-3 Filing LLP Form 11 Filing Dormant Status Filing MOA Amendment AOA Amendment Winding Up - LLP Winding Up - Company FLA Return Filing Professional Tax Return Filing Partnership Compliance Proprietorship Compliance Registered Office Change Name Change - Company Authorized Capital Increase