CBDT Enables Online Filing of ITR-2, Introduces Excel Utility
Income Tax Department Enables Online Filing Facility for Assessment Year 2026-27
The Income Tax Department has enabled the ITR-2 online filing facility and Excel utility on the e-filing portal, allowing salaried individuals, pensioners, and other taxpayers to file their Income Tax Return (ITR) for the Assessment Year 2026-27.
Taxpayers can file their ITR either through the offline Excel utility or via the online utility available on the Income Tax e-filing portal. The deadline to file ITR for Assessment Year 2026-27 (Financial Year 2025-26) is July 31, 2026.
Changes in ITR-2
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The ITR-2 form has undergone several changes for the Assessment Year 2026-27. These changes include:
| Category | Previous Year | Current Year |
|---|---|---|
| Capital Gains Reporting | Less detailed | More detailed |
| Buyback Losses | Not disclosed separately | Separately disclosed |
| Foreign Assets/Income | Less detailed reporting | Additional reporting |
| Secondary Contact and Address | Not included | Included |
Who is Eligible to File ITR-2
Individuals and Hindu Undivided Families (HUFs) are eligible to file ITR-2 if they do not have income from business or profession but have:
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- Capital gains
- Foreign assets
- Multiple income sources
- Higher complexity disclosures
In simple terms, ITR-2 is meant for individuals and HUFs who do not have income from business or profession but are not eligible to file ITR-1.
Who is Eligible to File ITR-1
ITR-1 (Sahaj) is intended for resident individuals with relatively straightforward tax profiles. Taxpayers having income up to Rs 50 lakh from salary or pension, two house property, raising the earlier limit of one property, and income from other sources such as interest may generally qualify to file ITR-1, subject to specified conditions.
Who is Not Eligible to File ITR-2
Individuals or HUFs with income fully or partially earned from a business or profession are not eligible to file ITR-2. Additionally, individuals who are partners in a Partnership Firm are also not eligible to file ITR-2.
Required Documents for Filing ITR-2
To file ITR-2, taxpayers should keep several important documents ready to ensure accurate reporting of income, deductions, taxes paid, and capital gains or losses. These include:
- A copy of the previous year's income tax return
- Bank statements
- TDS certificates
- Savings and investment proof for deductions
- Interest certificates showing income earned during the financial year
- Form 16 issued by the employer for salaried individuals
- TDS certificates and bank passbooks or Fixed Deposit Receipts (FDRs) for interest calculation
- Form 26AS to verify TDS deducted on salary and other income sources
- Rent receipts to claim House Rent Allowance (HRA) for taxpayers living in rented accommodation
- Profit and loss statements or capital gains summaries for individuals with capital gains from shares or mutual funds
- Supporting investment or donation documents for claiming deductions under Sections 80C, 80D, 80G, or 80GG.
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