Income Tax Return (ITR) 2 Form In Kerala
The taxpayers are categorized based on the income, source of income, and many other factors to ensure that the compliances are easy. ITR 2 return filing in Kerala us for the individuals and the Hindu Undivided Families that are not carrying any profession or business. Persons earning income from the following sources are eligible to file ITR 2 return filing in Kerala.
- Income from Salary or Pension
- Income from House property (income can be from more than one house property)
- Income from capital gains or loss on sale of the investments or property (Both short term and long term)
- Income from other sources (including winning lottery, bets on horses, and other legal means of gambling)
- Foreign Assets or Foreign Income
- Agricultural income of more than Rs.5000
- A resident who is not an ordinary resident and a Non-resident.
- A Director of a company and an individual who has invested in unlisted equity shares of a company is also required to file their ITR 2 return filing in Kerala.
Who cannot file ITR 2 in Kerala?
- Any Individual or Hindu Undivided Family that has income from business or profession
- An individual who is eligible to fill out the ITR 1 Form.
How to File ITR 2 Form in Kerala?
ITR 2 return filing in Kerala is done both online and offline as well. Offline ITR 2 Form filing in Kerala can be done by individuals who are of the age of 80 years or more.
Offline ITR 2 return filing in Kerala can be done by:
Furnishing a return in a physical paper form
Furnishing a bar-coded return.
An acknowledgment is issued by the Income Tax Department at the time of submitting the physical paper return.
Online ITR 2 Filing in Kerala can be done by:
Furnishing a return electronically using the Digital Signature Certificate.
Transmitting the data electronically and then submitting the verification of the return in the Form ITR V.
When ITR 2 Form is signed electronically using the Digital Signature Certificate then an acknowledgment is sent to your registered email id.
As ITR 2 Return Filing in Kerala is annexure less, there is no need to add any documents or attachments. But it is always better to keep the documents handy so that they can be produced as and when needed.
To file ITR 2 return filing in Kerala talk to our tax experts today.
- Income exceeds Rs. 50 lakh
- Has foreign assets or income
- Has an agricultural income of more than Rs. 5000
- Has taxable capital gains
- Ha income from business or profession as a partner
- Has more than one house property.