If you sold mutual funds, stocks, or property this year — or have more than one income source — your tax return form is now live online. ITR-2 is the form for salaried people who have capital gains (the profit you make when you sell mutual funds, shares, or property), two properties, or any foreign income. Filing late means a penalty of up to ₹5,000, so this is worth doing before you forget.
What this means for you
- If you redeemed mutual funds or sold shares through any stock broker or mutual fund app this year, ITR-1 won't work for you — you need ITR-2.
- Filing after July 31 attracts a late fee of ₹1,000–₹5,000 depending on your income — avoidable with a little planning now.
- Even if your gains are small or tax is zero, filing on time keeps your financial record clean for home loans and visa applications.
What you can do
- Log in to incometax.gov.in, check which ITR form applies to you, and start filling now — July 31 feels far, but it sneaks up fast.
- Pull your AIS (Annual Information Statement) from the portal — it's a ready summary the tax department fills with all your income, gains, and tax already deducted at source (TDS), so you know exactly what to declare.
You're ahead just by knowing the form is open — most people wait until the last week and rush it.
Grow with clarity 🌱