Who is eligible to file ITR-2 for FY 2021-22 | Assessment Year 2022-23

Income Tax Return Filing Due date is for the F.Y 2021-22 (A.Y 2022-23) is 31st July 2022. ITR Must be filed if your Taxable income is Crossing the Threshold Limit.

Individuals and Hindu Undivided Families (HUFs) who are not in the business or profession of any kind should file Form ITR 2. It can be used to file tax returns with the IT Department by Indian nationals and non-resident Indians both.

The ITR-2 form must be submitted if you plan to file your income tax returns. It is not available to partners in Partnership Firms, HUFs, or individuals who are qualified and eligible for the ITR 1 form.

Thus, individuals or HUFs with income from the following sources are eligible to file Form ITR-2:

• Are not eligible to file ITR-1 (Sahaj)
• Have no revenue from a business or profession’s profit and gains, as well as income from a business or profession’s profit and gains in the form of:
  • interest.
  • salary.
  • bonus.
  • commission or compensation, by whatever name, owed to or received by him from a partnership firm.
• Allow the income of another person, such as a spouse or minor child, to be combined with their own – if the income to be combined falls into one of the categories listed above.