Annexure-less Return Form
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When using the SUGAM return form, taxpayers are not required to upload any additional documents, including TDS certificates.
Why Choose IndiaFilings for ITR4?
- Expert Guidance: Benefit from the expertise of our professionals, who will guide you through the ITR 4 income tax filing process, ensuring accuracy, verifying ITR 4 applicability, and complying with tax regulations.
- Convenience: Enjoy the ease and convenience of our online platform, allowing you to file your ITR4 from the comfort of your home or office. Say goodbye to time-consuming queues and paperwork.
- Accuracy: Our rigorous review process guarantees that your ITR4 is free from errors, reducing the risk of potential tax-related issues in the future.
- Timely Filing: We understand the significance of filing your taxes on time. With IndiaFilings, you can be confident that your ITR 4 income tax form will be filed promptly, helping you avoid penalties and meet tax deadlines.
Contact IndiaFilings today, and our dedicated team will assist you at every stage of the process.
Documents Required For ITR-4 Return Filing
Bank Statement
PAN Card
PAN card details of the individual.
Aadhar Card
Aadhaar card of the authorized signatory
ITR-4 Return Filing FAQ’s
What is ITR-4 (Sugam) Form?
ITR-4 (Sugam) is an income tax return form specifically designed for taxpayers who have opted for the presumptive income scheme under Sections 44AD, 44ADA, and 44AE of the Income Tax Act.
Who is eligible to file ITR4 (Sugam) Form?
ITR 4 applicability extends to Individuals, Hindu Undivided Families (HUFs), and firms (excluding Limited Liability Partnerships or LLPs) who choose the presumptive income scheme under Sections 44AD, 44ADA, or 44AE.
What is the Presumptive Taxation Scheme?
The presumptive taxation scheme simplifies tax compliance for small taxpayers by allowing them to estimate their income at prescribed rates, reducing the burden of maintaining extensive financial records. Sections 44AD, 44ADA, and 44AE provide relief to eligible taxpayers.
Who is eligible for the Presumptive Taxation Scheme under Section 44AD?
Resident individuals, Resident Hindu Undivided Families (HUFs), and Resident Partnership Firms (excluding Limited Liability Partnerships) engaged in certain businesses can use this scheme to estimate their income, subject to specific conditions.
Who can utilize the Presumptive Scheme under Section 44ADA?
Resident individuals in India who are professionals in fields specified under Section 44AA(1) can use this scheme to estimate their professional income, subject to certain conditions.
What is the eligibility for the Presumptive Scheme under Section 44AE?
This scheme is applicable to individuals, HUFs, firms, and other residents or non-residents engaged in the business of plying, leasing, or hiring goods carriages. They can estimate their income under this scheme, provided they own not more than ten goods carriages during the previous year.
What are the eligibility criteria for using ITR-4 (Sugam) Form?
To use ITR-4 (Sugam), taxpayers must meet specific criteria:
- Total income should not exceed Rs. 50 lakh.
- Income must be derived from specified sources, such as salary, pension, one house property, interest income, presumptive business income (up to Rs. 2 crores), and professional income (up to Rs. 50 lakh).
What types of Income are not eligible for ITR 4 income tax filing?
ITR 4 income tax form cannot be used for income types like profits and gains from certain businesses, more than one house property, capital gains, lottery winnings, owning and maintaining racehorses, and certain other specified incomes.
Can a taxpayer with a loss file ITR-4 (Sugam)?
Taxpayers with certain types of losses, deductions, or tax credits, as specified in the Income Tax Act, are not eligible to file ITR-4 (Sugam).
What is the structure of ITR-4 (Sugam) Form?
ITR-4 (Sugam) consists of four parts:
- Part A: General Information
- Part B: Gross Total Income
- Part C: Deductions and Total Taxable Income
- Part D: Tax Computation and Tax Status
Is the annexure of documents required when filing ITR-4 (Sugam)?
No, taxpayers are not required to attach any additional documents, including TDS certificates, when filing ITR-4 (Sugam).
Why choose IndiaFilings for ITR-4 (Sugam) filing?
IndiaFilings offers expert guidance, convenience, accuracy, and timely filing services for ITR-4 (Sugam). Our professionals ensure compliance with tax regulations, making the filing process hassle-free.
Can ITR-4 (Sugam) be filed online?
No, taxpayers are not required to attach any additional documents, including TDS certificates, when filing ITR-4 (Sugam).
What is the penalty for late filing of ITR-4 (Sugam)?
Late filing of ITR-4 (Sugam) can result in penalties under section 234F, which can be up to Rs. 10,000, depending on the delay.
Can I revise my ITR-4 (Sugam) after filing?
Yes, you can revise your ITR-4 (Sugam) within the specified period if you discover errors or omissions in the original filing.
Are there specific exemptions for professionals under ITR-4 (Sugam)?
ITR-4 (Sugam) does not provide specific exemptions for professionals. However, it is designed for taxpayers who choose the presumptive income scheme, which can simplify tax calculations for professionals.
Is there a difference in the due dates for individuals and businesses filing ITR-4 (Sugam)?
The due date for filing ITR-4 (Sugam) is the same for both individuals and businesses. It depends on whether the accounts are subject to audit.
Can ITR-4 (Sugam) be filed manually, or is e-filing mandatory?
E-filing is mandatory for taxpayers whose accounts are required to be audited under Section 44AB of the Income Tax Act. Others may choose to file manually.
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