ITR-2 filing for AY 2026-27 is live: Who must file, key deadlines & costly mistakes to avoid
1/9
ITR-2 filing started for AY 2026-27: What taxpayers need to know
The Income Tax Department has enabled online filing and Excel utility for ITR-2 on the e- Filing portal for AY 2026-27. Eligible taxpayers can now start filing their returns using either the online platform or the offline Excel utility.
2/9
ITR filing due date 2026-27: Mark these important tax deadlines
Taxpayers eligible to file ITR-2 should complete their returns on or before July 31, 2026, unless a different deadline is announced. Filing early helps avoid last-minute errors, delayed refunds, and portal congestion. Even taxpayers with zero tax liability may still need to file returns if their income exceeds the prescribed filing thresholds under income tax laws.
3/9
Who can file ITR-2? Check if this income tax form applies to you
ITR-2 is designed for individuals and Hindu Undivided Families (HUFs) who do not earn income from business or professional activities. It is commonly used by salaried employees, pensioners, and taxpayers with income from multiple house properties, capital gains from shares or property, and other sources that make their tax situation more complex than ITR-1.
Amazon Top Deals
POWERED BY
Crompton Ozone 75 Litres Desert Air Cooler for home | Large & Easy Clean Ice Chamber | 4-Way Air Deflection | High Density Honeycomb Pads | Everlast Pump | Auto Fill| 3 Year Brand Warranty
₹9,798Buy Now43%
OFF
atomberg Studio Smart+ 1200mm BLDC Ceiling Fan with IoT & Remote | BEE 5 star Rated Energy Efficient Ceiling Fan | High Air Delivery with LED Indicators | 3 Year Warranty (Earth Brown)
₹5,903Buy Now36%
OFF
LG 32 L Convection Microwave Oven (MC3286BRUM, Black, 360° Motorised Rotisserie for Bar-be-queing, 301 Auto Cook Menu, Stainless steel cavity, Indian Cuisine, Tandoor Se, Steam Clean & Diet Fry)
₹19,340Buy Now19%
OFF
4/9
Salary, capital gains, multiple houses? You may need to file ITR-2
If you have earned capital gains from selling shares, mutual funds, land, or property, or own more than one house property, ITR-2 may be the correct form. It also applies to taxpayers reporting both short-term and long-term capital gains, making it an important return form for investors and high-value asset owners.
5/9
High-income earners, NRIs and directors: When ITR-2 becomes mandatory
Individuals with total income above Rs 50 lakh generally cannot use ITR-1 and may need to file ITR-2. The form is also mandatory for many non-residents (NRIs), Residents Not Ordinarily Resident (RNORs), company directors, and individuals holding unlisted equity shares. These categories face additional disclosure requirements under income tax rules.
6/9
Lottery winnings, foreign assets, agricultural income: ITR-2 covers these too
ITR-2 can also be used for reporting income from lotteries, racehorse winnings, and other legally taxable windfalls. Taxpayers with agricultural income exceeding Rs 5,000 may also need this form. In addition, individuals with overseas assets, foreign bank accounts, or foreign income must ensure proper disclosures while filing.
7/9
Top ITR-2 filing mistakes that can trigger tax notices
One of the most common errors is incorrectly reporting capital gains or classifying them as short-term or long-term. Many taxpayers also fail to provide complete details in Schedule 112A for equity investments. Mistakes in these sections can lead to mismatches with tax records and may invite scrutiny or compliance-related queries.
8/9
Foreign assets and residential status errors can be costly
Taxpayers often make mistakes while determining whether they are residents, non- residents, or RNORs. Incorrect classification can affect tax liability and compliance requirements. Resident taxpayers must also accurately disclose foreign assets and overseas accounts in Schedule FA. Missing these disclosures may lead to penalties and other compliance complications.
9/9
How to file ITR-2 correctly and avoid last-minute problems
Before submitting ITR-2, reconcile all income details with Form 26AS and AIS. Carefully report bank balances, property ownership, investments, vehicles, jewellery, and other required assets. Ensure loss carry-forward schedules are completed correctly and personal information is updated. Accurate reporting and timely filing can help avoid notices, penalties, and refund delays.