If Agricultural income exceeds Rs 5000 and the person also having Business income,
which ITR has to be filled.
please suggest
Replies (6)
Quick Summary
If your agricultural income exceeds Rs 5,000 and you also have business income, you cannot file using ITR-1. The correct Income Tax Return form to use in this scenario is ITR-3. This form accommodates both agricultural income above the threshold and business income.
Agricultural income in ITR 1 is to be shown under the column of Agriculture Income. But ITR 1 can only be used if the agricultural income is upto Rs 5,000.
In case if the said income exceeds 5000 with business income ITR-2 is required to be filed.