sir, in my ITR ais report shows rental income on plant and machinery. 2.5 Lak, business receipt shows 3lakh, I am ready to file ITR 2, where I can show above 2 incomes. pls help
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Quick Summary
This discussion clarifies the correct Income Tax Return (ITR) form for individuals with both rental income from plant and machinery and business receipts. It highlights that if you have business income, ITR Form 2 is not appropriate. Instead, you should file either ITR Form 3 or ITR Form 4, depending on your specific circumstances, and report the business income under the relevant business income section.