ITR-4 Form Filing - Income Tax Return
For filing returns, the Income Tax Department has set out different forms. These forms are filed by the taxpayers as per the category that they fall under and the source of their income. There are multiple criteria that decide eligibility of a taxpayer to file a particular ITR form. Form ITR-4 is used for filing Income Tax Return by those taxpayers who have opted for the presumptive income scheme under Sections 44AD, 44ADA and 44AE of the Income Tax Act, 1961. This is, however, subject to the business turnover limit of INR 2 crores, exceeding which the taxpayer would be required to file ITR-3. Presumptive Taxation scheme is a scheme that exempts the small taxpayers from maintenance of books of accounts.
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Who all are eligible to file Form ITR 4?
Form ITR-4 is required to be filed by those individuals whose income comes from the following sources:
Who all are not required to file Form ITR-4?
Form ITR-4 cannot be filed by any individual who:
What are the components of Form ITR-4?
Form ITR-4 has the following parts:
Filing Income Tax Return ITR-4 SUGAM Form
ITR-4 SUGAM form can be filed under any of the following four methods:
- Filing in a paper form – Only applicable for individuals over 80 years old and/or individuals/HUFs whose income does not exceed Rs.5 lakhs and no refund is claimed.
- Filing online using digital signature certificate.
- Transmitting the data in ITR-4 SUGAM form electronically under electronic verification code.
- By transmitting the data in ITR-4 SUGAM form electronically and then mailing (By post) the return in Return Form ITR-V to the Income Tax Office.
Assessee filing ITR-4 SUGAM form under the fourth method must complete the acknowledgement in ITR-V. After preparing ITR-V, the assessee should print out two copies of Form ITR-V. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to
Post Bag No. 1,
Electronic City Office,
Bengaluru— 560 100,
The other copy may be retained by the assessee for his record.
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