ITR-2 for FY2024-2025 notified by Income Tax dept: There’s good news for Rs 50 lakh to Rs 1 crore income-earners, know other changes and more

The CBDT has notified the ITR-2 form for FY2024-25, effective from April 1, 2025, which will be applicable to the majority of taxpayers, especially salaried individuals, pensioners, and those with income from multiple properties or capital gains. Key changes include raising the asset and liability reporting limit to Rs 1 crore, requiring TDS section reporting, and splitting capital gains. Read on to know more about the changes made.