ITR-2 Calculator (ITR-2 for Salaried Individuals and HUFs) - Financeskill

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ITR-2 Calculator (ITR-2 for Salaried Individuals and HUFs)

Personal Details

Financial Year:

Entity Type:

Tax Regime:

Filing Status:

Residential Status:

Income Details

Salary Income

Gross Salary:

Exempt HRA:

Other Exempt Allowances:

Value of Perquisites:

Profits in Lieu of Salary:

House Property Income

Self-Occupied Property

Rental Income (if any):

Interest on Home Loan:

Let-Out Property

Rental Income:

Municipal Taxes Paid:

Interest on Home Loan:

Capital Gains

Short-term Capital Gains (Equity - 15%):

Short-term Capital Gains (Non-Equity - Slab Rate):

Long-term Capital Gains (Equity - 10% above 1L):

Long-term Capital Gains (Non-Equity - 20%):

Income from Other Sources

Interest from Savings Account:

Interest from Fixed Deposits:

Dividend Income:

Family Pension:

Other Income (e.g., Lottery, Gifts):

Foreign Income and Assets

Foreign Income:

Do you have Foreign Assets?

Deductions (Old Regime only)

Section 80C (Max ₹1,50,000):

Section 80D (Max ₹25,000 / ₹50,000 for senior citizens):

Section 80G:

Section 80TTA (Max ₹10,000 - Savings Interest):

Section 80TTB (Max ₹50,000 - Senior Citizens):

Section 80CCD(1B) (Max ₹50,000 - NPS):

Other Deductions (e.g., 80E, 80U):

Taxes Paid

TDS from Salary:

TDS on Interest:

TDS from Other Sources:

Advance Tax Paid:

Self-Assessment Tax Paid:

Exempt Income

Agricultural Income (Exempt):

Other Exempt Income (e.g., PPF Interest):

Tax Calculation

Frequently Asked Questions

What is ITR-2?

ITR-2 is used by individuals and HUFs with income from salary, multiple house properties, capital gains, or other sources, but not business or professional income.

What is the difference between New and Old Tax Regimes?

The New Tax Regime offers lower rates but removes most deductions, while the Old Tax Regime allows deductions but has higher rates.

Can I switch between tax regimes every year?

Yes, you can choose a different regime each year, but the option to switch back to the Old Regime may be limited after opting for New Regime.

What is the difference between ITR-1 and ITR-2, and who can file them?

ITR-1 (Sahaj) is for individuals with income up to ₹50 lakh from salary, one house property, and other sources like interest (up to ₹5,000). ITR-2 is for individuals and HUFs with income from salary, multiple house properties, capital gains, foreign assets, or other sources, but not business or professional income. ITR-1 is simpler, while ITR-2 is for more complex income scenarios.