ITR-2 online filing live: Are you eligible and what has changed?
advertisementIt must be noted that earlier, on July 11, the Excel utilities for ITR-2 and ITR-3 were released, allowing people to download the forms, fill them offline, and then upload them on the portal.WHO SHOULD USE ITR-2?
ITR-2 is mainly for people who earn from salary or pension, own more than one house, have capital gains, or get income from other sources.But it is not for those who have business or professional income. Hindu Undivided Families (HUFs) can also use this form if they fit these rules.IMPORTANT CHANGES THIS YEARThis year, the ITR-2 form has a few important changes that every taxpayer should know. You now have to report your long-term capital gains separately for periods before and after July 23, 2024, as new indexation and tax rules apply.If you hold unlisted bonds or debentures, you must clearly mention them depending on how long you have kept them. Any money you receive from share buybacks on or after October 1, 2024 should be shown under 'Income from Other Sources' and also marked as 'Nil' under capital gains.Plus, if you earn more than Rs 1 crore in a year, you must disclose your assets and liabilities. This limit was earlier set at Rs 50 lakh.So, if you plan to file your ITR-2 soon, make sure you check these updates before you click 'Submit'. It's always better to double-check the new rules to avoid any last-minute trouble later on.- Ends
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
L&T Finance net profit rises 2% in Q1FY26, margins and fees moderate
L&T Finance Ltd (LTF) posted a mere two per cent year-on-year (Y-o-Y) growth in consolidated net profit at Rs 701 crore in the first quarter ended June 2024 (Q1FY26) amid moderation in its net interest margins (NIM) and fees. Its net profit was Rs 686 crore in Q1 of the previous year. LTF, the lending unit of engineering conglomerate Larsen and Toubro Ltd, posted a six per cent Y-o-Y growth in consolidated total income at Rs 2,548 crore in Q1FY26. Its NIM plus fees and other income declined to 10.22 per cent in Q1FY26 from 11.08 per cent in Q1FY25, LTF said in a statement. The consolidated loan book size grew by 15 per cent Y-o-Y to Rs 1.02 trillion at the end of June 2025 from Rs 88,717 crore a year ago. It added a secured high yield product (gold loans) to its loan portfolio in Q1Fy26. The impetus remains on risk calibrated business growth with a sharp focus on a strong asset quality, laying the foundation for a sustainable and predictable growth, he added. Elaborating on segment-wise performance, the company said the disbursement in rural business finance was Rs 5,618 crore in Q1FY26, down three per cent. The outstanding book saw three per cent growth at Rs 26,616 crore at the end of June 2025. In the farmer finance business, the disbursements were up 16 per cent to Rs 2,200 crore in Q1FY26. The outstanding book also grew by 11 per cent to Rs 15,756 crore in Q1FY26 from Rs 14,204 crore a year ago, LTF said. In the housing finance and loans against property (LAP) segment, the disbursements were up 24 per cent to Rs 2,780 crore in Q1FY26 from Rs 2,245 crore in Q1FY24. The outstanding loan book grew 33 per cent to Rs 26,464 crore.
Time of India
33 minutes ago
- Time of India
PPU gets Rs 246 crore for new campus
Patna: The state govt has sanctioned Rs 246 crore to Patliputra University (PPU) for the construction of its new campus on a sprawling 10-acre area at Bakhtiyarpur in Patna district, VC Upendra Prasad Singh said on Friday. The VC said that he inspected the ongoing construction on Thursday. The university has decided to provide all modern facilities, he added. As of now, out of 10 floors construction work has been completed up to the fourth. The project timeline is 2027, after which the PPU plans to shift to the campus, the VC said. According to PPU's dean of students' welfare (DSW) Rajeev Ranjan, the new campus will house separate academic and administrative blocks, postgraduate classrooms and modern facilities including an air-conditioned auditorium, indoor sports complex, state-of-the-art library and canteen facilities. It will also have a vice-chancellor's residence, guest house and residential quarters for teaching and non-teaching staff, the first for a university in the state, he said.
Time of India
33 minutes ago
- Time of India
Sacked AGM goes on LinkedIn rant, booked
Surat: A recently terminated assistant general manager of Surat-based green energy firm KP Group has been booked for defamation and criminal intimidation after he allegedly abused and threatened the company and its employees on LinkedIn. The accused, Ashish Gupta, was employed with KP Group's subsidiary, KPI Green Energy Ltd, on June 16 but was relieved from his duties on July 5 due to unsatisfactory performance. According to the FIR filed by company representative Manoj Shahu, Gupta's technical knowledge and work output were found lacking, prompting management to terminate his services just 20 days into his appointment. Soon after his dismissal, Gupta allegedly took to LinkedIn and posted defamatory content targeting the company and its staff. He was also accused of using abusive language and tagging the company in multiple posts. When the company's HR head contacted him to address the matter, Gupta reportedly became aggressive and issued threats. According to the complaint, he warned that any employee who stood in his way would be 'killed' and demanded to be reinstated. On July 9, Gupta allegedly posted three more defamatory messages on LinkedIn, claiming KP Group owed him Rs 10 lakh and continuing his verbal attacks on the company's personnel. The company clarified that it had already credited Rs 4.54 lakh into Gupta's bank account, which included salary for 20 days, one month's advance salary, and reimbursement for hotel accommodation. Khatodara police have registered a case against Gupta under Sections 365(2) and 351(3) of the Bharatiya Nyaya Sanhita (BNS) for defamation and criminal intimidation. An investigation has been initiated.
