Taxpayers eligible to file ITR-2 for AY 2026-27 can now do so through the Income Tax e-Filing portal. This form can be submitted by individuals/HUF (residents and non-residents) who have a salary, multiple homes, capital gains or other sources (including income taxed at special rates) but do not have income from any business or profession.
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Filing ITR-2 for the first time or any time on your own can be challenging. There are approximately 26 sections in this form. However, you do not have to complete them all. You are responsible for completing or reviewing only those sections that apply to you. This article offers a quick guide to the 15 key schedules or sections of ITR-2.
1) Part A. General information: In this section, taxpayers must check the pre-filled details from their e-filing profile. In this section, you can edit your contact details, filing status, residence status and bank details.
While filing ITR-2 for AY 2026-27, the tax department has informed that in the Filing Status section, the option Filed u/s 139)1) will be automatically selected. Also, since the new tax regime is now the default regime, “No” will be automatically selected for the query asking, “Do you want to avail the option u/s 115BAC(6) to opt out of the new tax regime.” You can check “yes” if you want to choose. for the old tax regime. Also select “Indian Residence Status” and “Residence Status Conditions” from the drop-down menu.
2)Bank details: You need to add all your bank accounts in the Income Tax Portal. Many taxpayers make the mistake of not adding all of their bank accounts. To be eligible for a tax refund, at least one of your bank accounts must be pre-verified for refund transfer.
3) List the property of the house: In this section you need to view/enter/edit information related to residential properties (self-owned, rental or conditional rental). Details include the following:
4) Capital gains schedule: This schedule allows for separate reporting of capital gains arising from the sale/transfer of different types of capital assets.
For capital gains on more than one capital asset of the same type, you need to make a consolidated calculation.
“In case where capital gain arises from the sale or transfer of more than one capital asset of the same type, please make a consolidated calculation of the capital gain in respect of all such capital assets of the same type,” says the tax department.
However, in case of transfer of land/building, you need to enter the calculation for each plot/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)VDA schedule: Here you need to add income from the transfer of virtual digital assets. The VDA (Virtual Digital Asset) schedule has been newly added. The income shown in the VDA Schedule is automatically populated in the CG Schedule.
6)CYLA schedule: The Current Year Loss Adjustment (CYLA) Schedule allows taxpayers to view detailed income information after adjusting for current year losses. “Unabsorbed losses that are allowed to be carried forward from this amount are carried forward to the CFL Schedule for carry forward to future years,” the tax department said.
7)BAF schedule: The Schedule of Forward Loss Adjustment (BFLA) allows taxpayers to view detailed income information after offsetting previous years’ loss carryforwards.
8)CFL schedule: This Schedule of Loss Carry Forward (CFL) allows taxpayers to view details of losses that will be carried forward to future years.
9) Appendix VI-A: As per this schedule, you can add and check any deductions under sections 80C, 80D, etc. Most of these deductions are not applicable to taxpayers filing returns under the old regime.
10)SPI schedule: This chart is relevant for reporting income that needs to be combined with your income.
“In Schedule SPI, you need to add the income of certain persons (e.g. spouse, minor child) which is to be included or to be combined with your income under section 64,” says the Income Tax Department.
11) FSI schedule: However, resident taxpayers must report income from foreign sources.
“In the Foreign Source Income (FSI) Schedule, you are required to provide details of income that accrues or arises from any source outside India. This schedule is available only to residents,” the tax department says.
12) TR schedule: As per this schedule, you can provide a summary of the tax benefits you wish to claim in India in respect of taxes paid outside India in respect of each country. According to the tax department, this schedule contains a summary of the detailed information provided in the FSI Schedule.
13)FA schedule: Under this schedule, resident taxpayers are required to provide details of foreign assets or income from any source outside India. “This schedule does not need to be completed if you are not an ordinary resident or a non-resident,” the tax department says.
14) Schedule 5A: Under this schedule, eligible taxpayers are required to provide information “necessary to apportion income between husband and wife.” This is relevant for taxpayers governed by the joint property system under the Portuguese Civil Code of 1860.
15) AL schedule: Taxpayers having income above ₹1 crore are required to complete this table and disclose details of their movable and immovable assets and the liabilities incurred in respect of such assets. Non-residents or residents but not ordinary residents are required to provide details of assets located in India.