Thursday, July 19, 2007

Indian Income Tax Return filing made simple : ITR2 !!

Things are improving with Indian Government. Specially with Income Tax Department they have improved the way we can file Income Tax Returns this year. Well we know that the IT Return Form is changed this year too :( ..But still there are more utilities this year to help you to file returns.

So if you want to file ITR2 Form(When you have both Salary Income & Loss from House property).

Follow the Simple Steps & you will be done with ITR2 in 30 mins.

  1. Take your Forms 16
  2. Download Acrobat Reader 8.1(This is required, Acrobat Reader 7.0 will give issues)
  3. Open the ITR2 downloaded from above link using Acrobat Reader 8.1
  4. Fill up the Form based on details from Forms 16(Including Schedule CYLA For Loss of House Property - Enter the figure in +VE number)
  5. Ensure all details are filled up - btw this version allows you to SAVE the details entered !!
  6. Goto the last page & Click on button "Check Form". This will give any errors if any based on the checks designed for this form - like Date not entered, Address not entered.
  7. Then click on "Generate BarCode" button. This will generate the Bar Code on the first page. btw ..I am not sure about this though yet as sometime it does not generate :)
  8. Print the Form
  9. Submit to the local Income dept :) .. NO ATTACHMENTS ..Hurray !! ..Save Trees !!
  10. Go home/office(If u are using office time for submitting the Form !!) & enjoy !!
So be happy with the way things are improving with govt. depts !!

Issue with ITR2 Form & Acrobat 8.1 :
  • Acrobat Reader 8.1 takes too much of memory & CPU
  • The CPU goes to 100% ..That is because it automatically loads Acrobat Updates Software & starts downloading something in background - Exit that updater !!
  • Close all applications & use only Acrobat Reader 8.1 or 8.0 to open & fill up this ITR2 form.
  • If you generate the BarCode once, later on if you try to generate again, it may not :)
Hope this post helps many & saves their time !!


Anonymous said...

Nice info, you may like to update the d/l link for the ITR2 form, as V1.1 is out.

Anonymous said...

You can use ITR2 preparation tool at

Read the blog about the utility of this tool.

Anonymous said...

Thanks for this ITR2 info. I am still confused with the way these forms are prepared with little or no instructions for people being able to fill themselves.
I wanted to know if the significance of CYLA-BFLA and CFL sections. I could not find the explanations in 'simple terms' as to what needs to be filled in these.
I have home loan interest to show. Which sections do I need to show this in. both or only one of these? which one?
I didn't understand if one has to show previous year home loan interest amounts also or just this years?
can you help?
Shrikant - sshrikant at rediffmail
(if possible pls reply comment on your blog only so that i can check here)