ITR-2 Filing (Capital Gains & Multiple Properties)
For individuals with capital gains, more than one property or foreign assets to disclose.
ITR-2 is the return for individuals and Hindu undivided families who have income beyond what the simplest form covers, but no income from a business or profession. Capital gains, more than one house property, foreign assets and directorships all lead here.
It is a longer form than ITR-1 mainly because of its schedules. Capital gains, foreign assets and carried-forward losses each have their own, and the department cross-checks them against data it already holds from brokers, registrars and reporting entities.
What this costs
Assisted Tax Filing
₹2,754 plus GST
- Document collection & review
- ITR form identification
- Income computation
- Standard deduction claimed, along with 80C, 80D and 80TTA
- Your liability computed, with a clear statement of tax payable or refund due
- ITR preparation & filing
- ITR acknowledgement copy
When ITR-2 is the right form
- You have capital gains from shares, mutual funds or property
- You own more than one house property
- You are a director in a company
- You hold unlisted equity shares at any time during the year
- You have foreign income, foreign assets or a foreign bank account
- You are a non-resident or not ordinarily resident
- Your agricultural income exceeds the small limit permitted in ITR-1
- You have losses to carry forward or set off
Capital gains is where most errors happen
Each transaction has to be reported with its acquisition cost, date and sale consideration, and the holding period decides whether the gain is short or long term. Different asset classes carry different holding thresholds and different rates.
For property, the sale value is compared against the stamp duty value, and where the stamp value is materially higher the difference can be taxed. For equity acquired before the grandfathering date, the cost is computed on a special basis that brokers do not always apply correctly in their statements.
Foreign assets must be disclosed
Schedule FA requires disclosure of foreign bank accounts, shares, immovable property and other assets held at any time during the year — even where they produce no income and even where the value is small.
This is not a routine omission. Non-disclosure attracts consequences under the black money legislation, which are substantially more serious than ordinary concealment penalties. Employee stock options in a foreign parent company are the most commonly missed item.
How we handle it
- 1 Gathering statements We collect your broker statements, property documents and Form 16, and pull your 26AS and annual information statement.
- 2 Computing capital gains Each transaction is worked out with the correct holding period, indexation and grandfathering treatment where it applies.
- 3 Reconciling Your figures are matched against the department’s own data so nothing is inconsistent or missing.
- 4 Foreign asset disclosure Schedule FA is completed for every foreign holding, including those producing no income.
- 5 Comparing regimes Liability is computed under both regimes and the better outcome identified.
- 6 Filing and verification The return is filed after your approval and e-verified.
Frequently asked questions
I sold shares this year. Can I still use ITR-1?
Only within the limited capital gains exemption ITR-1 now permits. Beyond that you need ITR-2, and using the wrong form makes the return defective.
Do I report foreign shares that made no money?
Yes. Schedule FA requires disclosure of foreign assets held at any time during the year regardless of income. Stock options in a foreign parent are the most commonly missed item, and the consequences of omission are severe.
My broker statement shows a different gain from yours. Why?
Broker statements often do not apply grandfathering for pre-2018 equity, or handle bonus and rights issues correctly. The return has to follow the Act, not the statement.
I am a director but have only salary income. Which form?
ITR-2. Being a director in any company, or holding unlisted shares, rules out ITR-1 regardless of how simple your income is.
Can I carry forward a capital loss?
Yes, but only if the return is filed by the due date. A belated return forfeits the right to carry forward losses, which is often the most expensive consequence of filing late.
What is not included. Government fees, statutory charges, stamp duty, court and registry fees, digital signature costs and any third-party professional charges are separate and payable at actuals. GST applies on professional fees where indicated. Prices shown are indicative and may change without notice; we confirm the total in writing before any work begins — see our terms on pricing.
Talk to us about ITR-2 Filing (Capital Gains & Multiple Properties)
Share your requirement and our team will confirm the documents needed, the exact charges and a realistic timeline — usually the same working day.
- Expert document checking before submission
- Regular status updates on WhatsApp
- Transparent professional charges
- Assistance in Marathi & English
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