Online ITR-2

Online ITR-2 Filing Now Live—Key Changes Taxpayers Must Know Before Filing

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July 18, 2025 | New Delhi | CreditSamadhaan.com

In a crucial update for salaried individuals and investors, the Income Tax Department has officially launched the online filing facility for ITR-2 on its e-filing portal for the assessment year 2025–26. The move allows taxpayers to now file ITR-2 returns online using pre-filled data, a feature preferred for its convenience and error reduction.

✅ Online ITR-2 Filing Now Available for FY 2024-25
🚨 Key form changes linked to capital gains and disclosure limits
📌 Affects salaried individuals, HUFs with capital gains & multiple property income

The department announced the update on Friday, July 18, 2025, through its official X (formerly Twitter) handle, signaling the start of the final leg of the income tax filing season.

Who Should Use ITR-2?

ITR-2 is applicable to the following category of taxpayers:

  • Individuals and Hindu Undivided Families (HUFs)

  • Those earning income from salary or pension

  • Income from more than one house property

  • Capital gains from sale of shares, mutual funds, property, etc.

  • Other sources like interest, dividends, etc.

However, ITR-2 is not meant for those earning from business or professional income. For that, taxpayers must use ITR-3 (which is yet to go live online).

Key Changes in ITR-2 for AY 2025–26

This year’s ITR-2 form has undergone significant updates due to changes in the capital gains tax regime and asset disclosure norms. Here’s what taxpayers must take note of before filing:

🔹 Capital Gains Reporting Separated by Time Period

  • Taxpayers must report long-term capital gains separately for:

    • Transactions before July 23, 2024

    • Transactions after July 23, 2024

  • This change follows the revised indexation and tax rate rules introduced this financial year.

🔹 New Disclosure for Unlisted Securities

  • Unlisted bonds or debentures must now be disclosed separately.

  • Reporting varies based on holding period and acquisition date.

🔹 Buyback Proceeds Must Be Dual-Reported

  • Any buyback income received on or after October 1, 2024, must be:

    • Shown under “Income from Other Sources”, AND

    • Listed as “Nil consideration” under the capital gains section.

🔹 Asset & Liability Threshold Revised

  • Earlier, individuals with income above ₹50 lakh had to declare assets & liabilities.

  • Now, this threshold has increased to ₹1 crore.

  • Aimed at high-net-worth individuals (HNIs) and those with complex portfolios.

Online Filing Utility: Easier and Error-Free

The newly launched online ITR-2 utility supports pre-filled data, significantly easing the filing process by:

  • Auto-fetching PAN-linked information

  • Reducing manual entry errors

  • Saving time for taxpayers and professionals

🟠 Excel-based ITR-2 utility was launched earlier on July 11, but required offline form filling and manual upload.

With the online facility now live, salaried taxpayers and investors can file more easily, especially those with capital gains from mutual funds, stocks, or property sales.

What About ITR-3?

While the Excel utility for ITR-3 has already been made available, the online filing option with pre-filled data is still pending. This delay is a concern for taxpayers with:

  • Business income

  • Freelancing income

  • Professional services revenue

According to tax experts, the online version of ITR-3 is expected to go live before the July 31 deadline, though the Income Tax Department has not confirmed an exact date.

Important Tips Before Filing ITR-2

  1. Check your Form 26AS and AIS for income details

  2. Ensure Aadhaar-PAN linking is done

  3. Verify capital gains entries thoroughly under the new rules

  4. Declare foreign assets if applicable

  5. Disclose assets & liabilities if your income exceeds ₹1 crore

Conclusion

With the launch of online ITR-2 filing, taxpayers now have a more accessible and user-friendly way to file returns for AY 2025–26. The changes, especially around capital gains reporting, demand more precision and clarity. It’s highly recommended to consult a tax advisor or use authorized tax platforms to avoid errors and ensure full compliance.

📲 Need help with your ITR-2 filing or capital gains confusion?

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