iTunes shows that my iPhone holds 2,061 photos.

However the ‘Photos’ app
shows that my iPhone has no photos.

Which is correct? Why the discrepancy?
iMac: macOS Sierra, Version 10.12.4
iPhone: iPhone 4, Version 7.1.2 (11D257)
iTunes: 12.6.0.100
Photos: Version 2.0 (3150.4.120)