GMH Associates

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ITR-2 Form
Filing Online

File your ITR-2 accurately and
stay compliant with expert tax
filing support from GMH Associates

🟩 Suitable for individuals and HUFs
🟩 Covers capital gains and foreign assets
🟩 Maximum deduction claim assistance
🟩 Accurate and compliant tax filing

🟩 End-to-end filing support

Free Consultation

    Overview

    Overview

    ITR-2 is designed for individuals and HUFs who do not have business income but earn from salary multiple house properties capital gains or foreign assets.

    Filing ITR-2 ensures complete income reporting helps claim deductions obtain refunds and maintain compliance with income tax regulations.

    ITR-2 is designed for individuals and HUFs who do not have business income but earn from salary multiple house properties capital gains or foreign assets.

    Filing ITR-2 ensures complete income reporting helps claim deductions obtain refunds and maintain compliance with income tax regulations.

    Benefits

    Benefits

    Tax Comparison
    Sole Proprietorship
    vs Others

    business-men


    Sole Proprietor

    Tax Rate

    Individual income tax slabs
    ranging from 0% to 30%.

    Minimum Tax

    No tax payable up to
    ₹2.5 lakhs of income.

    Expense Deduction

    Business-related expenses
    are fully allowed.

    Advance Tax

    Applicable if total tax
    liability exceeds ₹10,000.

    Audit Requirement

    Audit required only if
    turnover exceeds limits.


    Partnership Firm

    Tax Rate

    Flat tax rate of
    30% on total income.

    Minimum Tax

    Taxable irrespective of
    partner’s personal income.

    Expense Deduction

    Business expenses
    are allowed as deductions.

    Advance Tax

    Advance tax payment
    is applicable.

    Audit Requirement

    Audit generally required
    as per applicable rules.


    Pvt Ltd Company

    Tax Rate

    Corporate tax at 25%
    for turnover below ₹400 cr.

    Minimum Tax

    Taxable regardless of
    dividend distribution.

    Expense Deduction

    Business expenses
    are allowed.

    Advance Tax

    Advance tax payment
    is mandatory.

    Audit Requirement

    Statutory audit is
    mandatory every year.

    business-men


    Sole Proprietor

    Tax Rate

    Individual income tax slabs
    ranging from 0% to 30%.

    Minimum Tax

    No tax payable up to
    ₹2.5 lakhs of income.

    Expense Deduction

    Business-related expenses
    are fully allowed.

    Advance Tax

    Applicable if total tax
    liability exceeds ₹10,000.

    Audit Requirement

    Audit required only if
    turnover exceeds limits.


    Partnership Firm

    Tax Rate

    Flat tax rate of
    30% on total income.

    Minimum Tax

    Taxable irrespective of
    partner’s personal income.

    Expense Deduction

    Business expenses
    are allowed as deductions.

    Advance Tax

    Advance tax payment
    is applicable.

    Audit Requirement

    Audit generally required
    as per applicable rules.


    Pvt Ltd Company

    Tax Rate

    Corporate tax at 25%
    for turnover below ₹400 cr.

    Minimum Tax

    Taxable regardless of
    dividend distribution.

    Expense Deduction

    Business expenses
    are allowed.

    Advance Tax

    Advance tax payment
    is mandatory.

    Audit Requirement

    Statutory audit is
    mandatory every year.

    • Individuals earning salary or pension income
    • Income from multiple house properties
    • Capital gains from shares, property, or mutual funds
    • Agricultural income exceeding ₹5,000
    • Foreign income or overseas assets
    • NRIs earning taxable income in India

    Documents Required

    • PAN and Aadhaar card
    or pension income
    • Form 16, Form 16A and
    Form 26AS house properties
    • Bank statements and
    interest certificates
    • Investment and deduction proofs
    • Capital gains statements
    • Property documents
    and rent receipts
    • Health insurance premium receipts
    • Donation receipts under
    Section 80G
    • Foreign income and asset details
    • Individuals earning salary
    or pension income
    • Income from multiple
    house properties
    • Capital gains from shares, property, or mutual funds
    • Agricultural income
    exceeding ₹5,000
    • Foreign income or
    overseas assets
    • NRIs earning taxable
    income in India

    Documents Required

    • PAN and Aadhaar card
    or pension income
    • Form 16, Form 16A and
    Form 26AS house properties
    • Bank statements and
    interest certificates
    • Investment and
    deduction proofs
    • Capital gains statements
    • Property documents
    and rent receipts
    • Health insurance
    premium receipts
    • Donation receipts under
    Section 80G
    • Foreign income and
    asset details

    Registration Process

    Registration Process

    Post-Registration Compliances

    Post-Registration Compliances

    Return Verification

    Complete e-verification within
    prescribed time

    Refund Tracking

    Track refund status
    through tax portal

    Record Maintenance

    Preserve filing documents
    for future reference

    Notice Management

    Respond promptly to
    departmental notices

    Annual Filing

    File returns before
    due dates every year

    Return Verification

    Complete e-verification
    within prescribed time

    Refund Tracking

    Track refund status
    through tax portal

    Record Maintenance

    Preserve filing documents
    for future reference

    Notice Management

    Respond promptly to
    departmental notices

    Annual Filing

    File returns before due
    dates every year

    Common Mistakes to Avoid

    Common Mistakes
    to Avoid

    Wrong ITR
    Selection

    Using incorrect return form
    may cause rejection

    Missing Capital
    Gains Reporting

    Unreported gains may
    trigger tax notices

    Incorrect Foreign
    Asset Disclosure

    Incomplete reporting can
    lead to penalties

    Invalid Deduction
    Claims

    Unsupported claims may
    attract scrutiny later

    Missing Return
    Verification

    Unverified returns remain
    incomplete and invalid

    Delayed Return
    Filing

    Late submission may
    result in penalties

    Wrong ITR
    Selection

    Using incorrect return form
    may cause rejection

    Missing Capital
    Gains Reporting

    Unreported gains may
    trigger tax notices

    Incorrect Foreign
    Asset Disclosure

    Incomplete reporting can
    lead to penalties

    Invalid Deduction
    Claims

    Unsupported claims may
    attract scrutiny later

    Missing Return
    Verification

    Unverified returns remain
    incomplete and invalid

    Delayed Return
    Filing

    Late submission may
    result in penalties

    Clients Choose GMH Associates for
    Clients Choose GMH Associates for
    cta_man

    Let's Talk Now.

    If you need immediate assistance, please call:

    PHONE CALL

    Share a few details with us, and one of our compliance specialists will get in touch shortly.
    We’ll guide you through the entire process — from selecting the right business structure to completing registrations and filings — free of charge.

    cta_man

    Let's Talk Now.

    If you need immediate assistance, please call:

    PHONE CALL

    Share a few details with us, and one of our compliance specialists will get in touch shortly.
    We’ll guide you through the entire process — from selecting the right business structure to completing registrations and filings — free of charge.

    Ask Questions

    Frequently asked questions

    What is the cost of Sole Proprietorship Registration?

    Individuals and HUFs with salary income, multiple properties, capital gains, foreign assets, or agricultural income above ₹5,000.

    Declare them in Schedule FSI with supporting documents and claim eligible foreign tax credits.

    Sections 80C, 80D, 80G, 24(b), NPS contributions and other eligible deductions.

     

    Late filing may attract penalties and interest on unpaid taxes.

     

    Yes, revised returns can be filed within the permitted timeline.

     

    Yes, the return is incomplete until successfully verified.