This discussion addresses the correct Income Tax Return (ITR) form selection for individuals with both salary and business income. The expert suggests ITR 4 if business income qualifies for presumptive taxation, otherwise ITR 3 is recommended. For a spouse with salary income and short-term capital gains from shares, ITR 2 is the appropriate form.
06 June 2025
If the business income can be declared under presumptive assessment, you can go for ITR 4; else need to file ITR 3. For Salary + STCG, ITR 2 needs to be filed.