We will discuss 5 new things that you need to keep in mind while using the ITR-2 Form during income tax filing this year
Edited Highlights
0:05 In this video, we will discuss 5 new things that you need to keep in mind while using the ITR-2 Form during income tax filing this year
0:45 The first important addition is the number of days you spent in India in the last financial year and in the four preceding financial years
1:02 This information helps provide tax residency status
1:18 Non resident Indians (NRIs) filing for income tax will need to provide information about their overseas residency status and tax payer identification number
1:29 If you were in involved in a property sale, you will need to provide essential details of the transaction
1:37 This involves essential details like the buyer, property details, buyer's PAN number, transaction price and the address of the property
1:57 You also need to provided details of unlisted shares if you have invested in unlisted companies such as start-ups
2:04 You need to provide details like company name, PAN and the number of shares you hold
2:12 For agricultural income exceeding Rs 5 lakh, you will need to provided additional detailed information under the exempt income schedule
2:33 You need to provide details of the source of agricultural income including the size of the land, irrigation status and land ownership