Which ITR FORM

This discussion clarifies which Income Tax Return (ITR) form is suitable for individuals earning commission from loan collections. The consensus leans towards ITR 3, as this income is considered business income and doesn't qualify for presumptive taxation schemes like 44AD/44ADA. It's advised to calculate profit by deducting expenses from income and declare it accordingly. Alternatively, if filing under ITR 2 as 'income from other sources', expenses can be claimed under Section 57.