In the online mode, the form ITR-2 already comes with certain pre-filled information such as personal details of the taxpayer along with details of salary income, dividend income, interest income, capital gains, etc., and the form can be downloaded from either the government's income-tax e-filing portal or from other tax filing websites.
Note that in the offline mode, prefilled XML can be downloaded from the income-tax website and imported by using JSON utility to make further edits in the form. However, due to glitches in the tax website, it is advised that taxpayers cross-check the pre-filled information in both the online or offline mode as well before filing the return.
Step 1: Go to www.incometax.gov.in and log in with your credentials. Then go to E-File > Income Tax Returns -> 'File Income Tax Return'.
Step 2: Select the Assessment Year, applicable status and ITR Form and click on "Let's get started". Choose an online method for filing ITR-2.
Step 3: Select the applicable reason for filing the return of income and select 'Continue.'
Step 4: On the next page, you would see different schedules bifurcated into 5 categories under 'Select Schedule': General, Income, Deduction, Tax and Others. Though broadly applicable schedules like salary, house property, deductions etc. are selected in the prefilled ITR by default, you must select all the specifically applicable schedules like Schedule FA, AL, Exempt Income etc. basis his/her source of income, disclosure and reporting requirements and click on "Continue".
Step 5: On the next page "Proceed to schedule questions", click on "Continue". You will be required to select whether you wish to opt for the new tax regime. Upon confirming click on Continue
Note: You can skip these questions and the ITR form would capture the deductions from Form 16 directly, however, if any deduction has not been claimed via taxpayer's payroll, then it can be claimed by filing Schedule Deduction. Do keep in mind that these deductions can be claimed only if you have opted for a new tax regime, then you cannot claim any deductions except for deduction under Section 80CCD (2).
Step 6: The next page will have a summary of all schedules, and you have to validate the same to proceed further. Information to be validated in respective schedules includes general information, Schedule Salary, Schedule Capital Gains, Schedule Income from other sources, Schedule Carry Forward Losses, Taxes Paid.
Step 7: Proceed to Part B TTI. It is the computation of tax liability on total income and you can view the tax summary (Nil payable / refund) of the tax return.
Step 8: Once all the schedules are "Confirmed" and Part B TTI is verified, you need to click on "Preview Return" where you can download the ITR and then click on "Next" for the declaration tab. Fill requisite details in the declaration confirming that all details provided in the return are accurate and complete and click on 'Proceed to Validation'.
Note: If a list of errors is shown in the return, you must go back to the form to correct the errors. If there are no errors, you can proceed to e-verify return by clicking "Proceed to Verification". You can retrieve the acknowledgement (ITR-V) manually from the income tax website.
Step 9: After successful validation, proceed to verify tax return either electronically through net banking, Aadhaar OTP etc. or you can sign a physical printout of ITR V manually and send it to the CPC, Income Tax Department, Bengaluru within 120 days of e-filing the return.
It is worth remembering that while a few schedules of the ITR-2 form are pre-filled, you need to carefully verify every aspect and modify the same as necessary. You can also refer to the list of documents, FAQs, and other relevant reading material available on the income tax return filing portal, to file the tax return conveniently.
It is important for you to appropriately fill and verify the data in the tax return before proceeding to upload the tax return on the ITR filing portal.