ITR- 4 Return Filing
- Art Teacher
- London, UK
- 5-7 Hrs
Are you a small business owner, freelancer, or professional earning income under the presumptive taxation scheme? Then ITR-4 Return Filing is your go-to compliance tool! ITR-4, also known as Sugam, is specially designed for individuals, HUFs, and firms (other than LLPs) having income from business or profession where income is presumed under sections 44AD, 44ADA, or 44AE. The best part? You don’t need to maintain detailed books of accounts—saving both time and resources. But don’t be fooled—filing ITR-4 isn’t just ticking boxes; it’s about understanding your income sources, turnover limits, and tax implications.
- PAN Card and Aadhaar Card
- Form 26AS & AIS (Tax Credit Statement)
- Bank account details (with IFSC codes)
- Business turnover details
- Details of income under presumptive taxation (44AD, 44ADA, 44AE)
- TDS certificates (Form 16A, if applicable)
- Investment proofs (if applicable under old regime)
- Previous year’s ITR (optional but helpful)
- Digital Signature Certificate (for certain cases)
- Login to the Income Tax e-Filing portal (https://www.incometax.gov.in/)
- Navigate to e-File > Income Tax Return > File Income Tax Return
- Select Assessment Year → Individual / HUF / Firm → ITR Form: ITR-4
- Choose mode of filing (Online / Offline)
- Fill income, deduction, bank, and verification details
- Validate and submit return
- e-Verify the return using Aadhaar OTP / EVC / DSC
- Download the acknowledgement (ITR-V) for your records
FAQs
A person with foreign income, or capital gains (except long-term capital gains u/s 112A up to ₹1.25 lakh), cannot file ITR-4. ITR-4 is not permitted for those with foreign assets or income.
Section 44AD provides a presumptive taxation scheme for small businesses with turnover up to ₹2 crore (₹3 crore for digital receipts), allowing them to declare 6%/8% of turnover as taxable income without maintaining detailed books.
Presumptive taxation (under sections 44AD, 44ADA, 44AE) allows eligible small businesses to declare income at a prescribed rate of turnover, eliminating the need to maintain detailed books and claim specific expenses, including depreciation.
Salaried individuals can file ITR-4 only if they also have eligible presumptive business/professional income—pure salary earners should not use ITR-4.
Audit is not applicable under presumptive taxation unless income declared is lower than the presumptive rate and total income exceeds the exemption limit, or specified conditions under Section 44AB are triggered.
Audit is not applicable under presumptive taxation unless income declared is lower than the presumptive rate and total income exceeds the exemption limit, or specified conditions under Section 44AB are triggered.