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Income Tax Dept Activates ITR-2 For Online Filing | What’s New in AY 2025-26?

Income Tax Dept Activates ITR-2 For Online Filing | What’s New in AY 2025-26?

The Income Tax Department has officially enabled the online filing of ITR-2 for AY 2025-26. This move comes as a relief to millions of taxpayers, especially salaried individuals, professionals, and those with capital gains, who were waiting to file their returns. Along with the activation, several important changes have been made to the ITR-2 Form, aligning it with the latest tax compliance requirements.

In this blog, let’s explore:

  • ✅ Who should use ITR-2

  • ✅ What’s new in ITR-2 for AY 2025-26

  • ✅ Important links to download utilities and file return online


🔍 Who Should File ITR-2?

The ITR-2 Form is meant for individuals and Hindu Undivided Families (HUFs) not having income from business or profession.

You should use ITR-2 if you have any of the following:

  • Salary or pension income

  • Income from more than one house property

  • Capital gains from shares, mutual funds, property

  • Foreign income or foreign assets

  • Dividend income exceeding ₹10 lakh

  • Income of another person (like spouse or minor child) clubbed in your return


🆕 6 Key Changes in ITR-2 Form for AY 2025-26

Let’s break down the latest updates introduced in the ITR-2 utility for Assessment Year 2025-26:

1. Schedule VDA (Virtual Digital Assets) – Expanded

  • Taxpayers must now report each crypto transaction individually with details like acquisition date, sale value, cost, and gain/loss.

  • This is applicable under Section 115BBH, introduced last year, but with better clarity in this year’s form.

2. Disclosure of Tax Regime Option

  • You must now clearly mention whether you’re opting for the Old Regime or New Tax Regime (u/s 115BAC).

  • If you switch regimes, Form 10-IEA filing is mandatory and needs to be reported in the return.

3. New Drop-down for Exempt Incomes

  • Specific exemptions like agricultural income, LTCG exemptions under Section 54, 54EC, etc., now require additional selection and supporting detail.

4. Enhanced Schedule for Capital Gains

  • New sub-schedules ask for ISIN numbers, scrip details, and brokerage/charges while reporting listed equity LTCG/STCG.

  • Gains from mutual funds also require fund-wise details.

5. Reporting of Income from Other Sources – Detailed Split

  • The updated form asks for clear breakup:

    • Interest from savings/fixed deposits

    • Dividend income (now monitored under TDS Section 194)

    • Gifts received exceeding prescribed limits

6. Foreign Assets and Income Reporting – More Fields

  • NRI or RNOR taxpayers must report foreign bank accounts, foreign property, retirement accounts, and stock holdings in better detail.

  • Reporting under Schedule FA has been improved for ease of data entry.


🖥️ Where to File ITR-2 Online?

The ITR-2 JSON utility and Excel utility are both available on the Income Tax e-Filing portal.

👉 Download Utility:
🔗 https://www.incometax.gov.in/iec/foportal

Steps to file:

  1. Visit the official portal

  2. Download Excel or JSON utility for ITR-2

  3. Fill your return offline

  4. Upload the .json file or use the online mode

  5. Verify via Aadhaar OTP or net banking


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🎯 Final Thoughts

Filing your income tax return with the correct form and accurate information is critical. The changes introduced in ITR-2 AY 2025-26 aim to increase transparency and align with evolving tax rules, including crypto income, exempt incomes, and global asset reporting.

Don’t delay your ITR filing! Use the activated ITR-2 online form today and avoid the late filing penalty of ₹5,000 after September 15, 2025.


📢 Need Help with Filing ITR-2?
Contact the experts at TaxGyany for assisted filing, capital gains calculation, and compliance support.

🔗 Visit: www.taxgyany.com
📧 Email: info@taxgyany.com
📞 Call: 730 430 7888