How to file ITR-2 form: 10 documents you need to file ITR-2

• by Vaibhav
• Updated: July 15th, 2025

As the deadline for filing Income Tax Returns (ITR) for the financial year 2024–25 approaches on July 31, 2025, it becomes crucial for taxpayers to select the appropriate ITR form. While ITR-1 remains a commonly used form for salaried individuals with straightforward income sources, it is not applicable to all taxpayers. Individuals with more diverse or complex income profiles are required to file ITR-2. This form can be submitted either via the Income Tax Department’s official Excel/Java utility or directly through the online e-filing portal. The following section outlines the eligibility criteria for ITR-2 and the key documents necessary for a smooth filing process.

You should file ITR-1 if:

• You are a resident individual (not HUF, not NRI)
• Your total income is up to ₹50 lakh
• Your income comes from any or all of these:
• Salary or pension
• One house property
• Other sources (interest, FD, savings account, etc.)
• Agricultural income (up to ₹5,000)

You cannot file ITR-1 if:

• You are NRI
• Your income is over ₹50 lakh
• You have capital gains
• You have income from more than one house property
• You have business income
• You own foreign assets or have foreign income
• You are a director in a company or have unlisted equity shares

ITR-2 – For Individuals with More Complex Income

You should file ITR-2 if:

• You are an individual or HUF
• Your income includes:
• Salary/pension
• House property (one or more)
• Capital gains (e.g., from shares, property)
• Other sources
• Foreign income or ownership of foreign assets
• Agricultural income of more than ₹5,000
• Your total income is more than ₹50 lakh

Essential Documents Required for Filing ITR-2

Before initiating the process of filing ITR-2, it is important to gather and verify all the necessary financial documents to ensure a smooth and accurate submission. Below is a comprehensive list of key documents typically required :

1. Form 16 – For salaried individuals, Form 16 issued by the employer serves as the primary proof of income and TDS deductions.
2. Form 16A – If you have earned interest from fixed deposits or savings accounts, and tax has been deducted at source, you will require Form 16A from the respective deductors.
3. Form 26AS – This consolidated annual tax statement is essential for verifying all TDS credits, including those on salary and other income sources. It can be downloaded from the Income Tax Department’s e-filing portal.
4. Rent Receipts – If you reside in a rented property and intend to claim House Rent Allowance (HRA), rent payment receipts are necessary, especially if these were not submitted to your employer earlier.
5. Capital Gains Summary – For individuals with capital gains from share or securities transactions, a detailed profit/loss statement summarizing the gains or losses during the financial year is required for accurate reporting.
6. Bank Statements and FDRs – Bank passbooks and fixed deposit receipts are essential for calculating interest income earned during the year.
7. Rental Income Records – If you earn income from a rented property, you must have documents related to rental receipts, municipal tax payments, and interest paid on home loans (if applicable) to calculate income from house property.
8. Loss Documentation – To claim any loss incurred during the financial year (such as business or capital loss), relevant documents substantiating the loss must be available.
9. Previous Year’s ITR-V – In case you wish to claim losses from a prior year, a copy of the relevant ITR-V acknowledgment showing the reported loss is necessary.
10. Tax Saving Investment Proofs – Supporting documents for deductions under Sections 80C, 80D, 80G, and 80GG—such as insurance premiums, tuition fee receipts, donation proofs, and rent receipts—should be maintained, particularly if not already included in Form 16.

Ensuring the availability and accuracy of these documents will facilitate seamless filing and help avoid errors, omissions, or delays in processing your tax return.

Disclaimer: The views and information shared here are for general awareness only. Please seek professional advice before making any financial or legal decisions.