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ITR-4 Return Filing

What is ITR-4 Form?

The ITR-4 Form, commonly known as the Sugam form, is designed for taxpayers who have opted for the presumptive income scheme under Section 44AD, Section 44ADA, and Section 44AE of the Income Tax Act. It is mandatory for eligible taxpayers to complete and submit this form.

Who is Eligible to File ITR-4 Form?

The ITR-4 Form is for individuals, Hindu Undivided Families (HUFs), and firms (excluding Limited Liability Partnerships or LLPs) who opt for the presumptive income scheme under Sections 44AD, 44ADA, and 44AE.

What is a Presumptive Taxation Scheme?

The presumptive taxation scheme simplifies tax compliance for small taxpayers by allowing them to estimate their income at prescribed rates without maintaining extensive financial records.

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ITR 4 Form Filing

Section 44AD

  • Applies to resident individuals, resident HUFs, and resident partnership firms (excluding LLPs) engaged in certain businesses.
  • Allows calculation of income on an estimated basis, subject to specific conditions.

Section 44ADA

  • Applies to resident individuals who are professionals specified under Section 44AA(1).
  • Allows estimation of professional income on a presumptive basis, subject to certain conditions.

Section 44AE

  • Applies to individuals, HUFs, firms (excluding LLPs), and other residents or non-residents engaged in the business of plying, leasing, or hiring goods carriages.
  • Applies to individuals, HUFs, firms (excluding LLPs), and other residents or non-residents engaged in the business of plying, leasing, or hiring goods carriages.

Eligibility Criteria for Filing SUGAM (ITR-4) Form

To qualify for using the ITR-4 SUGAM form, the taxpayer must meet the following criteria for the assessment year:
  • Total income should not exceed Rs. 50 lakh.
  • Income should be derived from:

Income should be derived from:

  • Salary or pension.
  • One house property.
  • Interest income and/or family pension taxable under Other Sources.
  • Business computed on a presumptive basis (gross turnover up to Rs. 2 crores).
  • Profession computed on a presumptive basis under Section 44ADA (gross receipt up to Rs. 50 lakh).

Non-Applicability of ITR-4 SUGAM Form

The following taxpayers do not fall under the ITR-4 applicability criteria:
  • Directors of a company.
  • Individuals with unlisted equity shares during the previous year.
  • Taxpayers with assets or financial interests outside India.
  • Individuals with signing authority in any account outside the country.
  • Persons with income from sources outside India.
  • Individuals with income types such as:

Individuals with income types such as:

  • Profits and gains not computed under Sections 44AD, 44ADA, or 44AE.
  • More than one house property.
  • Capital gains.
  • Winning from the lottery.
  • Race Horse activities.
  • Income taxed at special rates under Sections 115BBDA or 115BBE.
  • Agricultural income exceeding Rs. 5,000.
  • Losses to be carried forward or claims related to relief under Sections 9A, 90, or 91.

Structure of the ITR-4 Form

The ITR-4 Form is divided into four parts for easy reporting:

Part A: General Information

  • Includes personal details such as name, gender, PAN, date of birth, income tax ward, address, email, and mobile number.

Part B: Gross Total Income from the 5 Heads of Income

  • Reports income from various sources: business, salary or pension, house property, and other sources.

Part C: Deductions and Total Taxable Income

  • Lists deductions under various sections of the Income Tax Act, such as 80C, 80D, 80E.
  • These deductions are subtracted from gross total income to determine total taxable income.

Part D: Tax Computation and Tax Status

  • Includes calculations related to tax liability, surcharge, relief under Section 89, interest under Sections 234B and 234C, advance tax paid, TCS collected, refund, rebate under Section 87A, cess on tax payable, and more.
  • Computes total tax payable and balance tax due.

Additional Information for Presumptive Income Scheme (Sections 44AD or 44AE)

  • Schedule IT:
  • Schedule TCS:
  • Schedule TDS1:
  • Schedule TDS2:
  • Statement of advance tax and self-assessment tax payment.
  • Statement of taxes collected at source (TCS).
  • Statement of tax deducted at source on salary.
  • Statement of tax deducted on income other than salary.

Annexure-less Return Form

  • Taxpayers are not required to upload additional documents, including TDS certificates.

Why Choose Munibgiri for ITR-4 Filing?

  • Expert Guidance:
  • Convenience:
  • Accuracy:
  • Timely Filing:
  • Benefit from professional assistance throughout the ITR-4 filing process, ensuring accuracy and compliance.
  • File your ITR-4 from the comfort of your home or office through Munibgiri’s online platform.
  • Rigorous review process to ensure error-free filing.
  • Avoid penalties by filing on time with Munibgiri’s prompt services.
Contact Munibgiri today, and our dedicated team will assist you at every stage of the process.