Income tax filing with ITR 2

Sandip Ghosh (27 Points)

14 July 2024  

Hello ,

I have two questions about income tax filing, any direction would be helpful -

  1. If someone has more than Rs. 1 lakh long-term capital gains from the Sale of Equity mutual fund, does that person need to use ITR2 for tax filing?
  2. If someone uses ITR 2 for filing in the current assessment year, can he/she switch back to ITR 1 again in the next Assessment year provided there are no further long-term capital gains for next year?

Thanks in advance.