Download Income Tax Return (ITR) 2 for AY 2013-14(FY 2012-13)

Download Income Tax Return (ITR) 2 for assessment year 2013-2014 .i.e. FY 2012-13. ITR 2 is applicable to an individual or a Hindu Undivided Family whose total income for the assessment year 2013-14 includes Income from Salary / Pension; or Income from House Property; or Income from Capital Gains; or Income from Other Sources. This ITR 2 return can’t be used by person having income from Business or Profession.

1. Assessment Year for which this Return Form is applicable

This Return Form is applicable for assessment year 2013-2014 only, i.e., it relates to income earned in Financial Year 2012-13.

 2. Who can use this Return Form?

This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2013-14 includes:-

(a) Income from Salary / Pension; or

(b) Income from House Property; or

(c) Income from Capital Gains; or

(d) Income from Other Sources (including Winning from Lottery and Income from Race Horses).

Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.

 3. Who cannot use this Return Form?

This Return Form should not be used by an individual whose total income for the assessment year 2013-14 includes Income from Business or Profession.

4. Obligation to file return

Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. The maximum amount not chargeable to income tax in case of different categories of individuals is as follows:-

S.No.Category

Amount (in Rs.)

i. In case of individuals below the age of 60 years

2,00,000

ii. In case of individuals who are of the age of 60 years or more but less than eighty years at any time during the financial year 2012-13.

2,50,000

iii. In case of individuals who are of the age of 80 years or more at any time during the financial year 2012-13.

5,00,000

5. COMPUTATION OF TAX LIABILITY ON TOTAL INCOME

The tax liability has to be computed at the rates given as under:-

(i) In case of every individual(other than resident individual who is of the age of 60 years or more at any time during the financial year 2012-13) –

Income (In Rs.) Tax Liability (In Rs.)
Upto Rs. 2,00,000Nil
Between Rs. 2,00,001 – Rs. 5,00,00010% of income in excess of Rs. 2,00,000
Between Rs. 5,00,001 – Rs. 10,00,000Rs. 30,000 + 20% of income in excess of Rs. 5,00,000
Above Rs.10,00,000Rs. 1,30,000 + 30% of income in excess of Rs. 10,00,000

(ii) In case of resident individual who is of the age of 60 years or more but less than 80 years at any time during the financial year 2012- 13-

Income (In Rs.) Tax Liability (In Rs.)
Upto Rs. 2,50,000Nil
Between Rs. 2,50,001 – Rs. 5,00,00010% of income in excess of Rs. 2,50,000
Between Rs. 5,00,001 – Rs. 10,00,000Rs. 25,000 + 20% of income in excess of Rs. 5,00,000
Above Rs.10,00,000Rs. 1,25,000 + 30% of income in excess of Rs. 10,00,000

(iii) In case of resident individual who is of the age of 80 years or more at any time during the financial year 2012-13

Income (In Rs.) Tax Liability (In Rs.)
Upto Rs. 5,00,000Nil
Between Rs. 5,00,001 – Rs. 10,00,00020% of income in excess of Rs. 5,00,000
Above Rs.10,00,000Rs. 1,00,000 + 30% of income in excess of Rs. 10,00,000

Points to be considered while filing income tax

  • The amount of rebate is the amount of tax computed on the aggregate of net agricultural income and the maximum amount not chargeable to tax (i.e. 2 lakh, 2.5 lakh or 5 lakh, as the case may be, as mentioned in para (a) above. This is applicable only if normal income (Total income less income chargeable to tax at special rate) is more than the maximum amount not chargeable to tax.
  • Calculate the education cess including secondary and higher education cess at the rate of three per cent.
  • Claim the relief if any allowable under section 89 in respect of arrears or advances of salary received during the year.
  • Claim relief in respect of tax paid (on income which is included in the return) in any foreign country with which DTAA exists between India and that foreign country.
  • Claim relief in respect of tax paid (on income which is included in the return) in any foreign country with which there is no DTAA between India and that foreign country.
  • Furnish the details in accordance with Form 16 issued by the employer(s) in respect of salary Income  and Form 16A issued by any other person in respect of interest income.
  • Enter full bank account number (minimum 11 digits as per Core Banking Solution (CBS) system of the Bank). This is mandatory even if your do not claim any refund.
  • Quote the IFSC code of the bank if you desire to receive the refund through electronic clearing system (ECS). However, it may not be possible to issue the refund in all cases through ECS since the ECS facility is not available across the country.

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