Filing ITR-2 for the first time or at any time by oneself can be daunting. There are around 26 sections in this form. However, you don't need to fill all of them.
Here's a brief guide to key schedules of ITR-2.
Taxpayers eligible for filing ITR-2 for AY 2026-27 can now do so on the Income Tax e-filing portal. This form can be filed by individuals/HUFs (residents & non-residents) having salary, multiple house properties, capital gains, or other sources (including income taxable at special rates), but no income from any business or profession.
Filing ITR-2 for the first time or at any time by oneself can be daunting. There are around 26 sections in this form. However, you don't need to fill all of them. You are required to fill or review only those sections that apply to you. This article offers a quick guide to 15 key schedules or sections of ITR-2.
1)Part A General: In this section, taxpayers are required to verify the pre-filled data from their e-filing profile. This section allows you to edit your contact details, filing status, residential status, and bank details.
While filing ITR-2 for AY 2026-27, the tax department said that under "filing status", "Filed u/s 139)1) will be auto-selected. Moreover, as the new tax regime is the default regime now, "No" will be auto selection for the query asking "Do you wish to exercise the option u/s 115BAC(6) of opting out of the new tax regime". You can mark "yes" if you want to opt for the old tax regime. Also, select "Residential Status India" and "Conditions for Residential Status" form the drop-down menu.
2)Bank details: You need to add all your bank accounts on the Income-tax portal. Many taxpayers make the mistake of not adding all their bank accounts. To be eligible for a tax refund, at least one of your bank accounts must be pre-validated for the transfer of the refund.
3)Schedule house property: In this section, you need to review/enter/edit details relating to house property (self-occupied, let out, or deemed let out). The details include the following:
Co-owner details
Tenant details
Rent
Interest
Pass through income, etc.
4)Schedule capital gains: This schedule allows segregated reporting of capital gains arising from sale/transfer of different types of capital assets.
For capital gains from more than one capital asset of same type, you need to male a consolidated calculation.
"In a case where capital gains arise from sale or transfer of more than one capital asset, which are of same type, please make a consolidated computation of capital gains in respect of all such capital assets of same type," the tax department says.
However, in case of transfer of land/building, you need enter the calculation towards each land/building.
The schedule also asks taxpayers to enter details of your short-term and long-term capital gains/losses for all types of capital assets owned.
5)Schedule VDA: In this you need to add the income from transfer of virtual digital assets. Schedule VDA (Virtual Digital Asset) has been newly inserted. The income reported under Schedule VDA auto-populates in Schedule CG.
6)Schedule CYLA: In the Schedule Current Year's Loss Adjustment (CYLA), taxpayers can view details of income after the set-off of current-year losses. "The unabsorbed losses allowed to be carried forward out of this are taken to Schedule CFL for carry forward to future years," the tax department says.
7)Schedule BFLA: In the Schedule Brought Forward Loss Adjustment (BFLA), taxpayers can view the details of income after the set-off of brought forward losses of earlier years.
8)Schedule CFL: In this Schedule Carry Forward Losses (CFL), taxpayers can view the details of losses to be carried forward to future years.
9)Schedule VI-A: Under this schedule, you can add and verify any deductions under Section 80C, 80D etc. Most of these deductions are not relevant for taxpayers filing under the old regime.
10)Schedule SPI: This schedule is relevant for reporting income that is required to be clubbed with your income.
"In Schedule SPI, you need to add the income of specified persons (e.g. spouse, minor child) that is includable or required to be clubbed with your income as per Section 64," the Income-tax Department says.
11)Schedule FSI: In this, resident taxpayers need to report income from foreign sources.
"In Schedule Foreign Source Income (FSI), you need to report the details of income, which is accruing or arising from any source outside India. This schedule is available for residents only," the tax department says,
12)Schedule TR: Under this schedule, you can provide a summary of tax relief you want to claim in India for taxes paid outside India in respect of each country. As per tax department, this schedule captures a summary of detailed information furnished in Schedule FSI.
13)Schedule FA: Under this schedule, resident taxpayers need to provide details of foreign asset or income from any source outside India. "This schedule need not be filled up if you are Not Ordinarily Resident or a Non-Resident," the tax department says.
14)Schedule 5A: Under this schedule, eligible taxpayers are required to provide information "necessary for apportionment of income between husband and wife". This is relevant for taxpayers governed by the system of community of property under the Portuguese Civil Code 1860.
15)Schedule AL: it is mandatory for taxpayers having income above ₹1 crore to fill this schedule and disclose the details of their movable and immovable assets along with liabilities incurred in relation to such assets. Non-residents or a resident but not ordinarily resident need to provide details of assets located in India.
Rajeev Kumar is a Deputy Editor at Upstox, and covers personal finance stories. In over 11 years as a journalist, he has written over 2,000 articles on topics like income tax, mutual funds, credit cards, insurance, investing, savings, and pension. He has previously worked with organisations like 1% Club, The Financial Express, Zee Business and Hindustan Times.
