Instructions for Filing ITR 2 For AY 2017-18, Download ITR 2 Form in PDF
Instructions for Filing ITR 2 For AY 2017-18. These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income tax Rules, 1962. Check Instructions for ITR 2 Income Tax Return AY 2017-18. In this article you can find complete details for filing ITR 2 for AY 2017-18 like – General Instructions for Filing ITR 2 For AY 2017-18, Applicability of Assessment Year for Filing ITR 2 For AY 2017-18, Who can use or who can not use ITR 2 For AY 2017-18 etc. Now you can check more details About “Instructions for Filing ITR 2 For AY 2017-18” from below…..
Instructions for Filing ITR 2 For AY 2017-18
1. Assessment Year for which this Return Form is applicable
This Return Form is applicable for assessment year 2017-18 only, i.e., it relates to income earned in Financial Year 2016-17.
2. Who can use this Return Form ITR 2?
This Return Form is to be used by an individual or an Hindu Undivided Family who is not eligible to file Sahaj ITR-1 and whose income chargeable to income-tax under the head “Profits or gains of business or profession” is in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm.
3. Who cannot use this Return Form?
This Return Form should not be used by an individual whose total income for the assessment year 2017-18 includes Income from Business or Profession under any proprietorship.
4. Manner of filing this Return Form
This Return Form can be filed with the Income-tax Department in any of the following ways,
- (i) by furnishing the return electronically under digital signature;
- (ii) by transmitting the data in the return electronically under electronic verification code;
- (iii) by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V;
Tax-payers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement (Form 26AS). (Please refer to www.incometaxindia.gov.in)
5. Filling out the acknowledgement
Where the Return Form is furnished in the manner mentioned at 4(iii), the acknowledgement should be duly filled in ITR-V. The assessee should print out two copies of Form ITR-V. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bengaluru–560100 (Karnataka). The other copy may be retained by the assessee for his record.
6. Columns under Filing status
Under the heading ‘Filing Status’ in the Return Form the relevant box needs to be checked regarding section under which the return is being filed on the basis of following.
|S.No||How the return is filed|
|1||Before the due date as provided under section 139|
|2||After the due date under section 139(1) but before the expiry of one year from the end of relevant assessment year as per section 139(4)|
|3||Revised Return under section 139(5)|
|4||Modified return under section 92CD|
|5||In response to notice under section 139 (9) for removal of defects|
|6||In response to notice under section 142(1)|
|7||In response to notice under section 148|
|8||In response to notice under section 153A/ 153C|
|9||Under section 119(2)(b) on an application to be made separately before the income-tax authority (The return shall be treated as valid only after the application/claim/relief under section 119(2)(b) has been admitted by the income-tax authority)|
If the assessee is governed by Portuguese Civil Code under section 5A of the Income-tax Act, schedule 5A is required to be filled out. Schedules relating to different heads of income should be filled out. However, while filling part B-TI (computation of total income) you should apportion the income (other than income from salary) and enter only your share of income under different heads. The balance share of income should be entered in the return of income of the spouse under respective heads
7. Obligation to file return
Every individual or HUF whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. The maximum amount not chargeable to income tax in case of different categories of individuals is as follows:-
|S. No.||Category||Amount (in Rs.)|
|(i)||In case of individuals below the age of 60 years||2,50,000|
|(ii)||In case of individuals, being resident in India, who are of the age of 60 years or more at any time during the financial year 2016-17||3,00,000|
|(iii)||in case of individuals, being resident in India, who are of the age of 80 years or more at any time during the financial year 2016-17||5,00,000|
Computation of income-tax, surcharge, education cess including secondary and higher education cess and interest in respect of income chargeable to tax
- (a) Compute income-tax payable on the total income. Special rates of tax are applicable to some specified items. Include agricultural income, as prescribed, for rate purposes, in the tax computation procedure.
- (b) If income includes income of the nature referred to in section 115BBE, surcharge @25% on such income is chargeable. If total income exceeds Rs. 1 crore, calculate surcharge on (total income minus income chargeable u/s 115BBE) at the rate of15%.
- (c) Add Education cess including secondary and higher education cess as prescribed on the tax payable and surcharge thereon.
- (d) Claim relief(s) as prescribed by the law, on account of arrears or advances of salary received during the year or of double taxation and calculate balance tax payable.
- (e) Add interest payable as prescribed by the law to reach total tax, and interest payable.
- (f) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “tax collected at source”, “advance-tax” and “self-assessment-tax”. The result will be the tax payable (or refundable).
Verification Please complete the Verification Section, fill date and Sign in the space given. Without a valid signature, your return will not be accepted by the Income- tax Department.
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