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Income Tax Department Launches ITR-2 Online Filing for A.Y. 2026-27
ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portal
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The Income Tax Department has activated online filing and an excel utility for ITR-2 for the assessment year 2026-27. Individuals and Hindu Undivided Families with complex income structures can now file their returns by July 31, 2026, using the e-Filing portal.
- 01ITR-2 is designed for individuals and Hindu Undivided Families without business income but with complex income sources.
- 02Taxpayers with total income exceeding ₹50 lakh must file ITR-2, including directors of companies and investors in unlisted shares.
- 03Common errors in ITR-2 filings include misclassification of capital gains and failure to report foreign assets accurately.
- 04Taxpayers are advised to reconcile disclosures with Form 26AS and AIS to prevent income misreporting.
- 05Deadline for filing ITR-2 for A.Y. 2026-27 is July 31, 2026.
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The Income Tax Department has enabled the online filing and excel utility for ITR-2 for the assessment year 2026-27 on its e-Filing portal. This allows individuals and Hindu Undivided Families (HUFs) who do not earn business income but have complex income structures, such as salary, pension, capital gains, and other sources, to file their returns by the due date of July 31, 2026. Chartered Accountant Abhishek Soni from Tax2Win notes that ITR-2 is mandatory for those with total incomes over ₹50 lakh, directors of companies, and investors in unlisted equity shares. Taxpayers should be cautious of common mistakes, including misclassification of capital gains, neglecting foreign asset disclosures, and inaccuracies in determining residential status, which can lead to compliance issues. Proper reconciliation with tax statements and updating personal details are crucial for successful filing.
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The activation of ITR-2 online filing facilitates taxpayers in managing their returns more efficiently.
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