ITR 2 Filing 2025: Key Changes You Should Know

The new Financial year has commenced, and the tax return season as well! The taxpayers now can file their Income Tax Return (ITR) for Assessment Year 2025-26. Similar to every year, the ITR filing is made available offline as well as online to ensure that every taxpayer can conveniently file their returns without any hindrances.

Please note that ITR Filing utilities for FY 2024-25 (AY 2025-26) are still not released by Income Tax Department.

What’s New in ITR-2 Filing for 2025?

The Income Tax Department has launched a new Excel utility for ITR-2, released on March 25, 2025. This return is for individuals and Hindu Undivided Families having no income from profession or business. The key update this year is the option to file a revised return under Section 139(8A).

So, if someone makes a mistake or needs to update any detail in their return, then they can now revise it easily. This new feature is especially useful for salaried individuals, pensioners, and other non-business taxpayers, making the filing process smoother and more flexible.

Who Should File ITR-2?

ITR-2 is meant for individuals and Hindu Undivided Families (HUFs) who do not earn income from business or profession but have income from other sources. People should file ITR-2 if their total annual income is more than Rs. 50 lakh or if they earn from sources like capital gains (for example, by selling property, shares, or mutual funds), rent from more than one house property, or any other income that doesn’t fall under salary or business income. This form is also required if you are a director in a company, hold shares in an unlisted company, or own foreign assets or have foreign income.

On the other hand, if the total income of a person for one year is less than Rs. 50 lakh and his income is derived from salary, pension, interest, dividends, or rent from one house property alone, then ITR-1 is their appropriate form. Selecting the proper ITR form is crucial. It makes the process of filing easy and saves one from any mistakes or future complications. No matter what you receive as income from salary, rent, capital gains, or otherwise, the proper form is helpful in keeping the individuals compliant with income tax regulations and making the return filing easy.