CBDT Updates ITR-2 Form for Individuals and HUFs Without Business/ Professional Income in AY 2026-27 [Read Notification]

The Central Board ofDirect Taxes (CBDT) has notified the updated Income Tax Return Form-2 (ITR-2) for the Assessment Year (AY) 2026-27, replacing the existing form applicable to individuals and Hindu Undivided Families (HUFs) not earning income from profits and gains of business or profession.

The notification dated March 30, 2026, issued by the CBDT in exercise of powers conferred under Section 295 read with Section 139 of the Income Tax Act, 1961 publishes the Income Tax (Fourth Amendment) Rules, 2026 and comes into force from March 31, 2026, applying to income tax returns filed for AY 2026-27.

The updated form is incorporated within Appendix II of the Income Tax Rules, 1962.

Also Read: CBDT Introduces Revised ITR‑5 Format, Making Filing Compulsory for Firms, LLPs, AOPs & BOIs

What is the ITR-2 Form?

The ITR-2 form is prescribed for individuals and Hindu Undivided Families who do not have income from business or profession. It is designed to facilitate reporting of income from sources such as salary, house property, capital gains, and other sources, along with comprehensive financial and statutory disclosures as required under the Income Tax Act, 1961.

Who can file ITR-2?

• Individuals earning income from salary or pension
• Individuals or HUFs with income from house property
• Taxpayers having capital gains income
• Persons earning income from other sources, including interest and dividends
• Individuals and HUFs required to file returns under Section 139

The form accommodates various filing situations including returns filed within the due date under Section 139(1), belated returns under Section 139(4), revised returns under Section 139(5), and returns filed in response to statutory notices under the Income Tax Act, 1961.

Also Read: CBDT Notifies Revised ITR-7 for AY 2026–27

Key Disclosure Requirements:

• Detailed personal information including PAN and Aadhaar
• Residential status determination as per statutory provisions
• Selection of tax regime with applicable declarations
• Reporting of capital gains across different asset classes
• Disclosure of foreign assets and income, where applicable
• Disclosure of directorship in companies and investments in unlisted equity shares
• Details of high-value transactions including:
• Specified financial transactions
• Foreign travel expenses
• Electricity consumption exceeding prescribed limits

The revised and updated ITR Form-2 standardises reporting requirements for taxpayers falling within its scope, incorporating detailed disclosures relating to income, residential status, and specified financial information.

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