This paper investigates the band topology and optical conductivity in two-dimensional d-wave alternmagnetic metals with substrate-induced Rashba spin-orbit coupling. The study considers the alternmagnet band structure using a 2D band Hamiltonian near the Γ point under an external magnetic field. It is shown that time-reversal-symmetry breaking due to alternmagnetism, along with Rashba coupling and external magnetic field, can result in non-trivial band topology. The topological phases can be tuned by magnetic field strength and directions, and are classified by their Chern numbers. The charge response is investigated by computing the full optical conductivity tensor with and without magnetic field. The paper focuses on magneto-optical responses, which are the finite-frequency analog of the Berry curvature-induced anomalous Hall conductivity. Using experimentally realistic parameters for RuO₂, the Faraday angle in the absence of magnetic fields is estimated. The paper discusses the electronic properties of alternmagnetic materials, which break time-reversal symmetry through a compensated order, and differ from conventional collinear antiferromagnets in their electronic properties. The strong splitting of spin-polarized electron bands on the alternmagnetic background leads to unusual transverse responses of spin and charge, and magneto-optical responses in alternmagnets. The study presents a comprehensive analysis of the non-trivial band topology and calculates the finite frequency optical response of alternmagnetic thin films with substrate-induced Rashba coupling. The results show that the anomalous Hall conductivity can be non-zero even without magnetic field, and that the Faraday effect can be observed in alternmagnets without external magnetic fields. The paper concludes that alternmagnetic heterostructures have potential applications in manufacturing non-reciprocal quantum devices without the need for external magnetic fields.This paper investigates the band topology and optical conductivity in two-dimensional d-wave alternmagnetic metals with substrate-induced Rashba spin-orbit coupling. The study considers the alternmagnet band structure using a 2D band Hamiltonian near the Γ point under an external magnetic field. It is shown that time-reversal-symmetry breaking due to alternmagnetism, along with Rashba coupling and external magnetic field, can result in non-trivial band topology. The topological phases can be tuned by magnetic field strength and directions, and are classified by their Chern numbers. The charge response is investigated by computing the full optical conductivity tensor with and without magnetic field. The paper focuses on magneto-optical responses, which are the finite-frequency analog of the Berry curvature-induced anomalous Hall conductivity. Using experimentally realistic parameters for RuO₂, the Faraday angle in the absence of magnetic fields is estimated. The paper discusses the electronic properties of alternmagnetic materials, which break time-reversal symmetry through a compensated order, and differ from conventional collinear antiferromagnets in their electronic properties. The strong splitting of spin-polarized electron bands on the alternmagnetic background leads to unusual transverse responses of spin and charge, and magneto-optical responses in alternmagnets. The study presents a comprehensive analysis of the non-trivial band topology and calculates the finite frequency optical response of alternmagnetic thin films with substrate-induced Rashba coupling. The results show that the anomalous Hall conductivity can be non-zero even without magnetic field, and that the Faraday effect can be observed in alternmagnets without external magnetic fields. The paper concludes that alternmagnetic heterostructures have potential applications in manufacturing non-reciprocal quantum devices without the need for external magnetic fields.