Selection of Income tax form

This discussion clarifies which Income Tax Return (ITR) form is appropriate for individuals with both salary and trading income. While ITR-1 is generally for salaried individuals, it's not suitable if you have income from trading. Trading income is classified as business income, and for those with salary and business income, ITR-4 is typically the correct form. The discussion also touches upon whether education loan instalments and interest paid are tax-exempt.