The Income Tax Department has enabled online filing of Income Tax Return (ITR-2) for Assessment Year 2027 (AY27). This move aims to simplify the tax filing process for individuals and Hindu Undivided Families (HUFs) who have income from capital gains, multiple sources, or foreign assets.
Who Can Use ITR-2?
ITR-2 is applicable for taxpayers who do not have income from business or profession. It is meant for individuals and HUFs with income from:
- Salary or pension
- House property
- Capital gains (short-term or long-term)
- Other sources (interest, dividends, etc.)
- Foreign assets or income
Key Features of ITR-2 for AY27
The online form includes pre-filled data from various sources such as Form 26AS, TDS certificates, and bank interest. Taxpayers can verify and edit the information before submission. The department has also introduced a simplified interface with better guidance for each section.
Additionally, the ITR-2 form now supports e-verification through Aadhaar OTP, net banking, or demat account. Taxpayers can also use the offline utility to prepare the return and upload it online.
Important Deadlines
The due date for filing ITR-2 for AY27 is July 31, 2027, for most taxpayers. For those required to get their accounts audited, the deadline is October 31, 2027. Late filing may attract penalties under Section 234F.
How to File ITR-2 Online
- Visit the Income Tax e-filing portal (www.incometax.gov.in).
- Log in using your PAN and password.
- Select 'File Income Tax Return' and choose AY27.
- Choose ITR-2 and fill in the required details.
- Verify the return using any of the available methods.
The department urges taxpayers to file early to avoid last-minute rush and errors. For assistance, taxpayers can refer to the help section on the portal or contact the toll-free helpline.
