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The Structure of ITR 2 is as follows: FY 2020-21 AY 2021-22 – ITR 2 Structure, Income Tax Return Form 2

Income Tax Return – ITR 2

ITR 2 is for an Individuals or a Hindu Undivided Family (HUF) who is not eligible to file Form ITR‐1 and who is not having any income under the head “Profits or gains of business or profession”.

 

Part‐ A – General Information

The general information part contains the following:

PERSONAL INFORMATION

• First Name
• Middle Name
• Last Name
• PAN
• Flat/ Door/ Block No.
• Name of Premises/ Building / Village
• Status
• Road/ Street/Post Office
• Date of Birth
• Area/ Locality
• Aadhaar Number (12 digits) Aadhaar Enrolment Number (28)
• Town/ City/ District
• State
• Country
• PIN Code/ Zip Code
• Residential/ Office Number with STD Mobile No.1
• Mobile No.2
• Email Address (Self)
• Email Address‐2

FILING STATUS

• Filed u/s
  • If revised/ defective/ modified then enter Receipt No. and Date of filing original return
• Or Filed in response to notice u/s
  • If filed in response to notice/ order, please enter Unique Number/ Document Identification Number & Date of such Notice or Order
• Are you opting for new tax regime u/s 115BAC
• Are you filing return of income under Seventh proviso to section 139(1) but otherwise not required to furnish return of income? If yes, please furnish following information [Note: To be filled only if a person is not required to furnish a return of income under section 139(1) but filing return of income due to fulfilling one or more conditions mentioned in the seventh proviso to section 139(1)]
  • Have you deposited amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current account during the previous year?
  • Have you incurred expenditure of an amount or aggregate of amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or for any other person?
  • Have you incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity during the previous year?
• Residential Status in India (for individuals)
• Residential Status in India (for HUF)
• Do you want to claim the benefit u/s 115H (Applicable in case of Resident)
• Are you governed by Portuguese Civil Code as per section 5A?
  • Whether this return is being filed by a Representative Assessee
  • Whether you were Director in a company at any time during the previous year?
  • Whether you have held unlisted equity shares at any time during the previous year?

 

Schedule S‐ Details of Income from Salary

• Name of employer
• Nature of Employer
• TAN of Employer (mandatory if tax is deducted)
• Address of employer
• Town/City
• State
• Pin code/ Zip code
• Gross Salary
• Salary as per section 17(1)
• Value of perquisites as per section 17(2)
• Profits in lieu of salary as per section 17(3)
• Total Gross Salary
  • Less allowances to the extent exempt u/s 10
• Net Salary
• Deductions u/s 16
  • Standard Deduction u/s 16(ia)
  • Entertainment allowance u/s 16(ii)
  • Professional tax u/s 16(iii)
• Income chargeable under the Head ‘Salaries’

 

Schedule HP‐ Details of Income from House Property

• Address of property
• Town/City
• State
• Country
• Pin code/ Zip code
• Owner of the property
• Is the property co‐owned
• Your percentage of share in the Property
• Name of Co‐owners
• PAN/ Aadhaar No. of Coowner(s)
• Percentage share of the coowners in property
• Type of House property
• Name(s) of Tenant
• PAN/ Aadhaar No. of Tenant(s)
• PAN/TAN/ Aadhaar No. of Tenant(s)
• Gross rent received/ receivable/ letable value during the year
• The amount of rent which cannot be realised
• Tax paid to local authorities
• Total. FY 2020-21 AY 2021-22 Structure of Income Tax Return (ITR) Form 2.
• Annual Value
• Annual value of property owned
• 30% of Annual Value
• Interest payable borrowed capital
• Total Arrears/Unrealized Rent received during the year Less 30%
• Income from house property
• Income from house property
• Pass through income/ loss, if any
• Income under the head “Income from house property”

 

Schedule 112A & Schedule 115AD(1)(b)(iii)‐Proviso

• Serial No
• Share/Unit acquired
• ISIN Code
• Name of the Share/Unit
• of Shares/Units
• Sale‐price per Share/Unit
• Full value consideration If shares/units are acquired on or before 31st January, 2018 (Total Sale Value 4*5) or If shares/units are acquired after 31st January, 2018 ‐ Please enter Full Value of Consideration
• Cost of acquisition without indexation
• Cost of acquisition
• If the long‐term capital asset was acquired before 01.02.2018, lower of 11 & 6
• Fair Market Value per share/unit as on 31st January,2018
• Total Fair Market Value of capital asset as per Section 55(2) (ac)‐ (4*10)
• Expenditure wholly and exclusively in connection with transfer
• Total deductions
• Long term capital Gain
• Balance – Item B4 of LTCG Schedule of CG
• Item B7 of LTCG Schedule CG
• Total of each column

 

Schedule‐OS ‐ Income from other sources

• Gross income chargeable to tax at normal applicable rates
• Dividends, Gross
• Dividend income [other than (ii)]
• Dividend income u/s 2(22)(e)
• Interest, Gross
• Rental income from machinery, plants, buildings etc., Gross
• Income of the nature referred to in section 56(2)(x) which is chargeable to tax
• Aggregate value of sum of money received without consideration
• In case immovable property is received without consideration, stamp duty value of property
• In case immovable property is received for inadequate consideration, stamp duty value of property in excess of such consideration
• In case any other property is received without consideration, fair market value of property
• In case any other property is received for inadequate consideration, fair market value of property in excess of such consideration
• Any other income (please specify nature)
• Income chargeable at special rates (2a+ 2b+ 2c+ 2d + 2e+2f elements relating to S.No. 1)
• Winnings from lotteries, crossword puzzles etc. chargeable u/s 115BB
• Income chargeable u/s 115BBE (bi + bii + biii + biv+ bv + bvi)
• Cash credits u/s 68
• Unexplained investments u/s 69
• Unexplained money etc. u/s 69A
• Undisclosed investments etc. u/s 69B
• Unexplained expenditure etc. 69C
• Amount borrowed or repaid hundi u/s 69D
• Accumulated balance of recognized provident fund taxable u/s 111
• Any other income chargeable at
• special rate (total of di to dxviii)
• List of types of income chargeable at special rate
• Pass through income in the nature of income from other sources chargeable at special rates

 

List of types of pass through income chargeable at special rates

• Amount included in 1 which is chargeable at in India as per DTAA (2) of table below
• Deductions under section 57:‐(other than those relating to income chargeable at special rates under 2a, 2b & 2d).
• Amounts not deductible u/s 58
• Profits chargeable to tax u/s 59
• Net Income from other sources chargeable at normal applicable rates (If negative take the figure to 3i of Schedule CYLA)
• Income from other sources (other than from owning race horses)
• Income from the activity of owning and maintaining race horses
• Income under the head “Income from other sources” (7+8e) (take 8e as nil if negative)
• Information about accrual/receipt of income from Other Sources

 

Schedule‐CFL ‐ Details of Losses to be carried forward to future years

• House property loss
• Short‐term capital loss
• Long‐term capital loss
• Loss from owning and maintaining race horses

 

Schedule‐VIA ‐ Deductions under Chapter VI‐A

Part‐ B – Deductions and Taxable Total Income

The details of deduction under Chapter VI-A

• 80C Section : Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.
• 80CCC Section : Deduction in respect of contribution to certain Pension Funds
• 80CCD(1) Section : Deduction in respect of contribution to pension scheme of Central Government
• 80CCD(1B) Section : Deduction in respect of contribution of employer to pension scheme of Central Government
• 80CCD(2) Section : Deduction in respect of contribution of employer to pension scheme of Central Government
• 80D Section : Deduction in respect of health insurance premia
• 80DD Section : Deduction in respect of maintenance including medical treatment of a dependent who is a person with disability
• 80DDB Section : Deduction in respect of medical treatment etc.
• 80E Section : Deduction in respect of interest on loan taken for higher education
• 80EE Section : Deduction in respect of interest on loan taken for residential house property
• 80EEA Section : Deduction in respect of interest on loan taken for certain house property
• 80EEB Section : Deduction in respect of purchase of electric vehicle.
• 80G Section : Deduction in respect of donations to certain funds, charitable institutions, etc.
• 80GGB Section : Deduction in respect of rents paid
• 80GGA Section : Deduction in respect of certain donations for scientific research or rural development
• 80GGC Section : Deduction in respect of contributions given by any person to Political parties

 

Deduction in respect of other incomes/other deduction

• Deduction respect royalty income, etc., of authors of certain books other than text books.
• Deduction in respect of royalty on patents.
• Deduction in respect of interest on deposit in savings account.
• Deduction in respect of interest on deposits in case of senior citizens
• Deduction in case of a person with disability
• Total Deduction.  FY 2020-21 AY 2021-22 Structure of Income Tax Return (ITR) Form 2.

 

Schedule‐ 80G ‐ Details of donations entitled for deduction u/s 80G

• Name and address of donee
• PAN of donee
• Total amount of donation – give break‐up of amount paid in cash/other mode
• Amount which is eligible for deduction

 

Schedule‐ 80GGA‐ Details of donations for scientific research or rural development

• Relevant clause under which deduction is claimed
• Name and address of donee
• PAN of donee
• Total amount of donation – give break‐up of amount paid in cash/other mode
• Date of donation in cash
• Amount which is eligible for deduction

 

Schedule 80D – Deduction in respect of health insurance premia

• Whether you or any of your family member (excluding parents) is a senior citizen
• Self & Family
• Health Insurance
• Preventive Health Checkup
• Self & Family Including senior citizen
• Health Insurance
• Preventive Health Checkup
• Medical Expenditure (This deduction can be claimed on which health insurance is not claimed at (i) above)
• Whether any one of your parents is a senior citizen
• Parents. FY 2020-21 AY 2021-22 Structure of Income Tax Return (ITR) Form 2.
• Health Insurance
• Preventive Health Checkup
• Parents Including senior citizen
• Health Insurance
• Preventive Health Checkup
• Medical Expenditure (This deduction can be claimed on which health insurance is not claimed at (i) above)

 

Schedule AMT – Computation of Alternate Minimum Tax payable under section 115JC

Assessee is required to provide the details of computation of Alternate Minimum Tax (AMT) payable under section 115JC (special provisions for payment of tax by certain persons other than a company). The alternate minimum tax payable under the section shall be 18.5% of the adjusted total income computed under the said section 115JC. The computation of adjusted total income and alternate minimum tax under this schedule should be based on the audit report in Form No.29C ,which has to be filed electronically before the due date for furnishing the return of income u/s 139(1).

 

Schedule AMTC‐ Computation of tax credit under section 115JD

Credit for AMT paid in AY 2013‐14 and subsequent assessment years, in excess of normal tax liability, is allowed to be set‐off against the normal tax liability of current AY.

 

Schedule SPI ‐ Income of specified persons (spouse, minor child etc.) includable in income of the assessee as per section 64

Assessee has to furnish the details of income of specified persons (spouse, minor child, etc.), which is required to be clubbed with your income in accordance with the provisions of Chapter V of the Income‐tax Act.

 

Schedule‐SI – Income chargeable to tax at special rates  

Assessee has to report income forming part of total income which is chargeable to tax at special rates.

 

Schedule‐EI – Details of Exempt Income (Income not to be included in Total Income or not chargeable to tax)

• Interest income
• Gross Agricultural receipts (other than income to be excluded under rule 7A, 7B or 8 of I.T. Rules)
• Expenditure incurred on agriculture
• Unabsorbed agricultural loss of previous eight assessment years
• Net Agricultural income for the year (enter nil if loss)
• In case the net agricultural income for the year exceeds Rs.5 lakh, please furnish the following details
• Other exempt income, (including exempt income of minor child)
• Income not chargeable to tax as per DTAA
• Pass through income not chargeable to tax (Schedule PTI)
• Total Income under this head

 

Schedule PTI ‐ Pass Through Income details from business trust or investment fund as per section 115UA, 115UB

• Investment entity covered by section 115UA/115UB
• Name of business trust/ investment fund
• PAN of the business trust/ investment fund
• Head of Income & Current year income
• Share of current year loss distributed by Investment fund
• Net Income/ Loss.
• TDS on such amount, if any

 

Schedule FSI ‐ Details of Income from outside India and tax relief

This Schedule FSI is applicable to assessee resident in India and having Income accruing or arising from any source outside India.

The Tax Payer Identification Number (TIN) of the assessee in the country where tax has been paid is to be provided. In case TIN has not been allotted in that country, then, passport number should be mentioned.

 

Schedule TR ‐ Summary of tax relief claimed for taxes paid outside India

Assessee needs to furnish ‘Summary of tax relief which is being claimed in India for taxes paid outside India in respect of each country’.

 

Schedule FA ‐ Details of Foreign Assets and Income from any source outside India

Assessee resident in India and having Foreign Assets needs to provide the details in following tables:

• Table A1 – Foreign depository accounts
• Table A2 ‐ Foreign custodian accounts
• Table A3 ‐ Foreign equity and debt interest
• Table A4 ‐ Foreign cash value insurance contract or annuity contract
• Table B ‐ Financial interest in any entity outside India
• Table C ‐ Any immovable property outside India
• Table D ‐ Any other capital assets outside India.
• Table E – Any other account located outside India in which you are a signing authority (which is not reported in tables A1 to D)
• Table F – Trust created outside India in which you are a trustee, a beneficiary or settlor
• Table G – Any other income derived from any foreign source (which is not reported in tables A1 to F)

 

Schedule 5A – Information regarding apportionment of income between spouses governed by Portuguese Civil Code

This schedule is applicable to Assessee governed by the system of community of property under the Portuguese Civil Code 1860.

 

Schedule AL ‐ Assets and Liabilities at the end of the year  

Assessee having total income exceeding Rs. 50 lakhs, it is mandatory to disclose the details of movable and immovable assets etc in this Schedule along with liabilities incurred in relation to such assets.

 

Part B – TI ‐ Computation of Total Income

1. Salaries
2. Income from house property
3. Capital gains
4. Income from other sources
5. Total of head wise income
6. Losses of current year to be set off against 5
7. Balance after set off current year losses (5‐6)
8. Brought forward losses to be set off against 7
9. Gross Total income (7‐8)
10. Income chargeable to tax at Income chargeable to tax at special rate under section 111A, 112, 112A etc. included in 9
11. Deductions under Chapter VIA ,
12. Total income
13. Income which is included in 12 and chargeable to tax at special rates
14. Net agricultural income/ any other income for rate purpose
15. Aggregate income (12 ‐ 13 + 14)
16. Losses of current year to be carried forward
17. Deemed income section 115JC under

 

Part B – TTI ‐ Computation of Tax iability on total income

• Tax payable on deemed income under section 115JC
• Tax payable on total income
• Rebate under section 87A
• Tax payable after rebate
• Credit u/s 115JD of tax paid in earlier years
• Tax payable after credit u/s 115JD
• Interest and fee payable
• Aggregate Liability
• Taxes Paid
• Amount payable
• Refund
• Interest and fee payable
• Aggregate Liability
• Taxes Paid
• Amount payable
• Refund
• Do you have a bank account in India (Non‐ Residents claiming refund with no bank account in India may select No)
• IFS Code of the bank (SWIFT code in case of foreign bank)
• Name of the Bank
• Account Number (IBAN in case of foreign Bank Accounts)
• Country of Location
• IBAN
• Do you at any time during the previous year,‐ hold, as beneficial owner, beneficiary or otherwise, any asset (including financial interest in any entity) located outside India; or have signing authority in any account located outside India; or have income from any source outside India?

 

Schedule‐IT: Details of Advance / Self‐assessment tax payments

Details of Advance Tax and Self Assessment Tax needs to be furnished as follows:

• BSR Code
• Date of Deposit (DD/MM/YYYY)
• Serial Number of Challan
• Tax paid. FY 2020-21 AY 2021-22 – ITR 2 Structure

 

Schedule‐TDS: Details of TDS/TCS

• TAN of the Employer
• Name of the Employer
• Income chargeable under salaries.
• Total tax deducted. FY 2020-21 AY 2021-22 Structure of Income Tax Return (ITR) Form 2.

 

Details of Tax Deducted at Source (TDS) on Income

• TDS credit relating to self /other person [Spouse as per section 5A/another person as per Rule 37BA (2)]
• PAN/ Aadhaar No. of other person (if TDS credit related to another person)
• TAN of the Deductor/PAN/ Aadhaar No.of Tenant/Buyer
• Unclaimed TDS brought forward (b/f)
• TDS of the current financial year (TDS deducted during FY 2020‐21)
• TDS credit being claimed this year (only if corresponding income is being offered for tax this year, not applicable if TDS is deducted u/s 194N).
• Corresponding receipt/ Withdrawals offered
• TDS credit forward being carried.

 

Details of Tax Collected at Source (TCS)

• Tax deduction and Tax
• Collection Account Number of the Collector
• Name of the Collector
• Tax collected
• Amount out of Tax Collected being claimed
• Amount out of Tax Collected being claimed in the hands of spouse, if section 5A is applicable