The Income Tax Department has made ITR-2 available for online filing as of July 18, 2025, with pre-filled data on the official e-filing portal. This initiative simplifies return filing for taxpayers with incomes from capital gains, crypto transactions, and multiple sources.
Taxpayers filing returns for FY 2024-25 (AY 2025-26) can now use the online ITR-2 utility, especially those earning from capital assets, overseas holdings, or cryptocurrencies. This form caters to individuals and HUFs with income from salaries, more than one house property, capital gains, and foreign assets. Additionally, those with agricultural income over ₹5,000, directors in companies, or those who have made investments in unlisted shares must file ITR-2.
The ITR-2 form now includes a breakdown of capital gains before and after July 23, 2024, following Finance Act amendments. Capital loss from share buyback is allowed if related dividend income is shown separately. The asset and liability declaration requirement now applies only if total income exceeds ₹1 crore. Enhanced fields for deductions under Sections 80C and 10(13A) and updated TDS code reporting are other notable revisions.
Read More: ITR Filing 2025: Switched Jobs This Year? Here's Why You Need Multiple Form 16s for Tax Filing!
To complete the ITR-2 filing, users should keep Form 16 (for salary), Form 26AS (for tax credit), and Form 16A (for non-salary TDS) handy. For capital gains, transaction statements from brokers, rental agreements, bank statements, and insurance or donation receipts for deductions are essential. Previous ITRs may be needed to carry forward losses.
The deadline to file ITR-2 for FY 2024-25 is extended to September 15, 2025. Taxpayers are advised to file early to avoid last-minute issues and interest penalties under delayed filing provisions.
The Income Tax Department’s move to enable online filing of ITR-2 with pre-filled data makes return filing simpler and more accessible for those with diverse and high-value income streams. With extended deadlines and improved utilities, taxpayers can now file more efficiently.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities are subject to market risks. Read all related documents carefully before investing.
Published on: Jul 18, 2025, 2:55 PM IST
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