ITR-4 SUGAM Form Filing
Easy ITR - 4 SUGAM Form Filing with Expert Help from CBS Stracon
The ITR-4 Form can be used by Individuals, Hindu Undivided Families who are running a business with turnover of less than ₹ 2 Crores and Professionals with gross receipts exceeding ₹ 50 Lakhs, provided they have opted for the presumptive income scheme as per Section 44AD ,Sec 44ADA and Section 44AE of the Income Tax Act.
Aspects of form ITR - 4
Who can use ITR-4 Form ?
ITR-4 must be filed by individuals / HUFs and Professionals who have opted for the presumptive income scheme as per Section 44AD ,Sec 44ADA and Section 44AE of the Income Tax Act.
ITR-4 cannot be filed by taxpayers who fall into the below category :
Businesses with turnover of over Rs. 2 Crores
Professionals with gross receipts exceeding Rs. 50 Lakhs
Who should not use ITR-4 Form ?
Due date to file ITR - 4
Due date for filing income tax return is 31st July for Individuals and 30th September for Businesses.
When to file ITR-4?
ITR-4 form is to be used when the assessee has income that falls into the below category :
Income from carrying on a profession and has opted for presumptive income scheme as per section 44 ADA
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.