Major changes in ITR-2, taxpayers will get online pre-Fil facility, know who will benefit the most

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ITR-2 pre-filled data: The Income Tax Department has given great relief to taxpayers filing returns through Form ITR-2. It is now possible to fill ITR-2 in online mode, that too with pre-filled data. That is, there will now be no problem of making Excel or JSON files. This decision will provide the most relief to taxpayers whose income is from the sale of share or property in addition to salary. Earlier they had to either wait or take help of a tax consultant.

What is a new change?

Till now only ITR-1 and ITR-4 could be filled online. Excel utility was available only for ITR-2 and ITR-3. Now ITR-2 can be filled with already filled data on the online portal. Earlier, for this, a JSON file had to be made by filling the form, which had to be uploaded.

Who should file ITR-2?

ITR-2 is for individuals and Huf whose income is from salary, pension, capital gains, share or property, foreign profit or income from more than one assets. But if income is from a business or profession, ITR-3 will apply. ITR-3 is not available in online pre-field mode right now. It will still have to fill using Excel utility and make a JSON file and upload it on the portal. This includes freelancer, businessman or people with foreign property.

What is a new change?

Till now only ITR-1 and ITR-4 could be filled online. Excel utility was available only for ITR-2 and ITR-3. Now ITR-2 can be filled with already filled data on the online portal. Earlier, for this, a JSON file had to be made by filling the form, which had to be uploaded.