Question 1

Who is required to file ITR-2?

Accepted Answer

ITR-2 is mandatory for individuals and HUFs having income from capital gains (shares, mutual funds, real estate, gold), crypto/VDA assets, more than one house property, foreign income or foreign assets, directorship in companies, holding unlisted shares, or total income exceeding ₹50 Lakhs (provided they have NO business or professional income). Our team handles complex multi-broker tax reporting.

Question 2

How do you calculate taxes on stock market gains and mutual funds in ITR-2?

Accepted Answer

We categorize your gains into Short-Term Capital Gains under Section 111A (taxed @ 15% / 20%) and Long-Term Capital Gains under Section 112A (taxed @ 10% / 12.5% after ₹1.25 Lakh exemption). We import P&L statements from Zerodha, Groww, Upstox, AngelOne, or any broker to compute indexation and grandfathering accurately.

Question 3

How are foreign shares (ESOPs/RSUs) and US stocks (INDmoney, Vested) reported?

Accepted Answer

Under Schedule FA (Foreign Assets) and Schedule FSI (Foreign Source Income), Indian residents must mandatorily disclose all foreign bank accounts, US company stocks, vested RSUs, and foreign dividend income. Non-disclosure can attract severe penalties under the Black Money Act. TaxQue's international tax team ensures 100% compliant foreign asset disclosures.

Question 4

Can I carry forward capital losses to offset future gains in ITR-2?

Accepted Answer

Yes. Under Section 71 and 74, short-term and long-term capital losses can be carried forward for up to 8 consecutive assessment years to offset future capital gains, PROVIDED your ITR-2 is filed on or before the 31st July statutory due date. Missing the July deadline forfeits your right to carry forward losses.

Question 5

What is the tax rate on cryptocurrency and NFT trades in ITR-2?

Accepted Answer

Under Section 115BBH, profits from Virtual Digital Assets (crypto, NFTs) are taxed at a flat 30% rate (plus cess), with zero basic exemption or business expense deductions allowed, and losses cannot be set off against any other income. TaxQue reconciles exchange statements from CoinDCX, WazirX, Binance, and CoinSwitch.

Question 6

Who will prepare my ITR-2 return at TaxQue?

Accepted Answer

Your return is prepared by a dedicated Capital Markets Tax Specialist and reviewed by a Senior Chartered Accountant. We verify all broker P&L reports, quarterly advance tax payments, TDS on property (26QB), and grandfathered stock values.

Question 7

What documents are required to file ITR-2?

Accepted Answer

You need to provide your Form 16, AIS/TIS, capital gain tax P&L statements from all brokers, mutual fund statements (CAMS/KFintech), property purchase/sale deeds (with stamp duty valuations and improvement expense receipts if applicable), and foreign holding statements. We handle the rest.

Question 8

How do you calculate capital gains on selling real estate or property?

Accepted Answer

We compute net capital gains by deducting the indexed cost of acquisition (or revised flat 12.5% rate under new Finance Act provisions), brokerage, stamp duty, and transfer costs from the sale consideration. We also help you claim capital gains exemptions under Section 54, 54EC (Capital Gain Bonds), or 54F to reduce your tax bill.

Question 9

Can an NRI (Non-Resident Indian) file ITR-2?

Accepted Answer

Yes. NRIs earning income in India from capital gains, rental property, or bank interest must file ITR-2. TaxQue helps NRIs claim Double Taxation Avoidance Agreement (DTAA) relief under Section 90 and obtain refunds for excess 20% or 30% TDS deducted by Indian banks and property buyers.

Question 10

What is the statutory deadline for filing ITR-2?

Accepted Answer

The due date for individual taxpayers not subject to tax audit is 31st July of the assessment year. Late filing by 31st December incurs a ₹5,000 late fee under Section 234F and loss of capital loss carry-forward benefits.

Question 11

What happens if my broker P&L statement does not match my AIS/TIS?

Accepted Answer

AIS reports gross transaction values from stock exchanges without factoring in purchase costs or intraday turnover, creating artificial variances. TaxQue reconciles exchange contract notes with your actual cost of acquisition and submits accurate feedback on the AIS portal to prevent departmental notices.

Question 12

Can I file ITR-2 if I have income from Futures and Options (F&O) or Intraday trading?

Accepted Answer

No. Income from F&O is classified as Non-Speculative Business Income and Intraday trading is Speculative Business Income under Section 43(5). If you trade F&O or Intraday, you MUST file ITR-3, not ITR-2. TaxQue automatically audits your trade book and guides you to the correct form.

Question 13

How does TaxQue optimize Advance Tax for capital gains?

Accepted Answer

Capital gains often occur unpredictably during the year. Under the proviso to Section 234C, interest is waived if advance tax is paid in the remaining quarterly installments following the transaction date. Our CAs calculate your exact installment dates to eliminate Section 234B and 234C interest penalties.

Question 14

What if I received a high-value transaction inquiry from the tax department?

Accepted Answer

If the department flags property sales or large mutual fund redemptions, our CA team drafts a comprehensive source-of-funds explanation with bank trail annexures to satisfy the assessing officer.

Question 15

How long does TaxQue take to prepare an ITR-2 filing?

Accepted Answer

Standard multi-broker ITR-2 returns with share trading and real estate capital gains are fully computed, audited, and ready for your review within 2 to 4 business days.

Question 16

What is the fee for filing ITR-2 with TaxQue?

Accepted Answer

We offer transparent, fixed pricing tiers based on whether your portfolio includes domestic equity, crypto, real estate capital gains, or foreign RSUs/ESOPs, with zero surprise hidden charges.

Feature & Deliverable Matrix	Basic	Standard★ Most Popular	Premium
Complete Form 16, AIS, TIS & 26AS Tax Credit Verification	✓	✓	✓
Accurate Income Computation & Deductions Review (80C, 80D, HRA)	✓	✓	✓
Optimal Tax Regime Selection (New vs Old Regime Comparison)	✓	✓	✓
Official Income Tax Department e-Filing & ITR-V Acknowledgment	✓	✓	✓
Automated Refund Tracking & CPC Intimation Verification	✓	✓	✓
Assigned Senior Chartered Accountant (CA) Tax Specialist	—	✓	✓
Capital Gains (Stocks, Crypto, Property) & Loss Carry-Forward Review	—	✓	✓
Business Balance Sheet & Profit & Loss Statement Scrutiny	—	✓	✓
Section 143(1) Intimation Verification & Defect Rectification Support	—	✓	✓
Comprehensive Multi-Year Tax Planning & Financial Structuring	—	—	✓
Defense & Legal Drafting for Scrutiny Notices (Section 148 / 142(1))	—	—	✓
Advance Tax Estimation & Quarterly Payment Scheduling	—	—	✓
Direct One-on-One Tax Consultation with Senior Partner	—	—	✓

Income Stream	Mandatory Documentation	Verification Notes
Equity, MF & Debt Securities	Consolidated Capital Gains Tax Statement (Annual), Dividend Summary, Form 26AS	Export from broker / CAMS / KFintech
Real Estate Property Sale	Registered Sale Deed, Original Purchase Deed, Improvement Invoices, Valuation Report	For Section 54/54EC exemption calculation
Foreign Assets & Overseas ESOPs	Form 1042-S, foreign brokerage statements, W-2, foreign bank accounts IBAN/SWIFT	Required for Schedule FA & FSI reporting
Company Directorship	Director Identification Number (DIN), Name of Company, PAN of Company, Listing status	Mandatory disclosure in Part-A General
Virtual Digital Assets (Crypto)	Exchange trading ledger, transaction hashes, purchase cost, and transfer dates	Taxed at flat 30% under Section 115BBH

Filing Category	Statutory Due Date	Statutory Penalty for Default
Non-Audit Individual / NRI	31st July of the Assessment Year	₹5,000 late fee under Section 234F + Disallowance of capital loss carry-forward
Belated Return (Section 139(4))	31st December of the Assessment Year	1% per month interest on unpaid tax under Section 234A
Non-Disclosure of Foreign Assets	Statutory scrutiny under Black Money Act	Flat ₹10 Lakhs penalty under Section 43 + 30% tax and 300% penalty on asset value

Asset Category & Holding Period	Tax Rate under Law	Exemption / Threshold Limit
Listed Equity / Equity MF (> 12 Months - LTCG)	12.5% (Without Indexation)	Exemption up to ₹1,25,000 per financial year under Section 112A
Listed Equity / Equity MF (<= 12 Months - STCG)	20% (Section 111A)	No basic threshold exemption
Unlisted Shares / Real Estate (> 24 Months - LTCG)	12.5% (Without Indexation) / 20% with indexation for pre-July 2024 property	Section 54 / 54EC / 54F reinvestment exemptions apply
Virtual Digital Assets / Crypto (Section 115BBH)	Flat 30% + 4% Cess	No deduction of expenses (except cost of acquisition) & no loss set-off

Parameter	TaxQue Capital Gains CA Desk	Automated Online Websites	General Tax Preparer
Grandfathering & Section 112A	Accurate Fair Market Value (FMV as on 31 Jan 2018) audit	Often applies flat rates incorrectly	Manual calculation errors
Foreign ESOP / RSU Taxation	Complete DTAA foreign tax credit (Form 67) & Schedule FA	Unsupported / causes heavy scrutiny notices	Unfamiliar with US Form 1042-S / W-2
Loss Set-off & Carry-Forward	Optimized 8-year loss matrix tracking across all asset classes	Fails to carry forward past losses properly	Misses intra-head loss set-off rules
Audit Defense for High Value	Full legal representation for Section 148 / 142(1) inquiries	Zero audit defense	Charges heavy emergency fees

Accounting

ITR-2 Filing

Timeline conditions

Get Free Expert Consultation

Right Plan For ITR-2 Filing

ITR-2 Filing for Capital Gains, Multiple Properties, Foreign Assets & NRIs

What is ITR-2 Filing?

Black Money Act Penalty Warning (Schedule FA)

How to Get Started

Capital Gains Consolidation & Asset Scrutiny

Capital Gains Computation & Exemption Modeling

Portal e-Filing & Schedule FA Verification

Documents Required for ITR-2 Filing

Statutory Deadlines & Penalty Matrix for ITR-2

Capital Gains Tax Rates & Exemption Thresholds

Why Choose ITR-2 Filing

Multi-Broker P&L Tax Harmonizer

Impenetrable Schedule FA Foreign Asset Audit

Section 54 / 54EC Real Estate Tax Shield

Eligibility Criteria for ITR-2

1Eligible Individuals & HUFs

2Ineligible Taxpayers (Must File ITR-3)

TaxQue ITR-2 Advisory vs Generic Tax Portals

Key Features of TaxQue ITR-2 Services

Automated Broker Integration

Form 67 Foreign Tax Credit

Loss Carry-Forward Shield

Frequently Asked Questions

What Our Clients Say

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