How To Efile ITR-2 Online AY 2019-20

ITR-2Efile ITR-2 Online AY 2019-20. In this article you will also learn how many heads will have in ITR-2 Efiling.Let us discuss them and learn how to file ITR-2 using java utility for AY 2019-20

Prerequisites of Efiling ITR-2

  • if you have income from more than one house property.
  • you get income from capital gains.
  • If agricultural income is more than rs 5,000.
  • Income more than Rs. 50 Lakhs
  •  foreign assets / income
  • Having income from business or profession as a partner.

Heads Of Income In ITR-2

  • Salary Income
  • income from more than one house property
  • income from other sources
  • Foreign assets

Steps To Efile ITR-2

Firstly download ITR-2  java utility from the below link:

Download ITR-2 Java Utility form

Now after downloading it just extract the zip file and double tap the .jar file and you get the ITR-2 form opened.

Read the instructions carefully

It is always good to have a through look at the instructions and move ahead.

Now on the second page you will find about 25  schedules.

Don’t be panic, just select “yes” those schedules that are applicable to you.

Now according to your income head,just fill accordingly.

You may also like:

How to efile ITR-1 AY 2019-20

Income from capital gains

Capital gains are of two types:

  1. short term capital gains
  2. long term capital gains

Further, you can get short term capital gains from shares and property.

And long term capital gains also do the same thing.

Nevertheless ,if you hold your shares for up to one year get profit afterwards, then these gains are called long term.

Similarly if one get his /her property held for 24 months and then gets gains on selling it,in this case it will be long term capital gains.

and vice versa.

if any confusion call me at +919877421209.

So you can fill the figures under capital gains head easily.

Income From House Property

Under this head of income,you should put your income from house rent,loan interest etc.

It is important to know that if your house is self occupied, then only rs 2,00,000 are allowed as hise loan interest deduction.

And in case your house is let-out,you can take full loan interest amount as deduction.

Also you can set-off your loss under this head against salary head while you efile  your ITR-2.

Income From Other Sources

When you file your ITR-2,you should put all your income from other Sources (FD interest,saving bank account interest etc..) here.

But you should also keep in mind that for govt. Or salaried employee, you can put your FD or saving interest under section 80TTA.

And for senior citizens, the section is 80TTB.

Income From Agriculture

If your income from Agriculture is > rs. 5000,you can report your Agriculture income under schedule EI.

Carry forward losses

Sometimes while efiling your ITR-2 you can not set-off your loss in a current AY.In that case you can carry forward your loss for next AY.

Brought Forward losses

Suppose you could not set-off your losses in the previous AY,then you can brought forward those losses in the current AY.

Hence you can reduce your tax liability.

Income From Salary

If you have salary income,you can report under this schedule.

But while filing ITR-2 you have to break up your salary details and report them one by one by adding rows accordingly.

Final Words

It is difficult to elaborate all details in a article, but we have tried our best to explain how to efile ITR-2 AY 2019-20.

Further if you have any question,please call me at +918877421208.

Thanks for your valuable time here.

Kuldeep Singh

is a professional blogger,teacher and income tax expert

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