ITR-4 Form - Meaning, eligibility, due date and format

Hello, in this post we will look into ITR-4 form. We will cover the following:

What is ITR-4 Form?

ITR-4 Form also called SUGAM is for those taxpayers who have opted for presumptive income scheme as per Section 44AD, Section 44ADA and Section 44AE of the Income Tax Act. However, if the annual turnover of business registered under presumptive taxation scheme exceeds Rs. 2 crores, the taxpayer will have to file ITR-3.

Who can file ITR-4?

ITR 4 is to be filed by the Individuals / HUF / partnership firm whose total annual income includes:

  • Business income u/s 44AD or 44AE
  • Income from profession calculated under section 44ADA
  • Salary/pension having income up to Rs 50 lakh
  • Income from 1 House Property having income up to Rs 50 lakh (excluding the brought forward loss or loss to be carried forward cases under this head);
  • Income from Other Sources having income up to Rs 50 lakh (Excluding winning from lottery and income from horse races).

ITR-4 Due date

The due date for filing income tax return is 31st July for Individuals and 30th September for Businesses.

Structure of ITR-4

ITR 4 consist of the following parts:

  • Part-A: General Information of the assessee
  • Part-B: Gross total income from the five heads of income
  • Part-C: Deductions and total taxable income
  • Part-D: Tax Computation and Tax Status
  • Verification and Signatures on the return
  • Schedule-BP: Details of the Income from business
  • Schedule-80G:  Details of donations entitled for deduction under 80G
  • Schedule-IT: Statement of payment of advance tax
  • Schedule-TCS: Statement of Tax Collected at Source(TCS)
  • Schedule-TDS1: Statement of Tax Deducted at Source (TDS) on Salary
  • Schedule-TDS2: Statement of Tax Deducted at Source on income other than Salary

It should be noted that after the implementation of GST, ITR-4 form has been modified accordingly from AY 2018-19 in order to include GST details.

How to file ITR-4?

Offline:

ITR4 can be filed offline if the taxpayers fall into any of the following cases:

  • Individuals who are 80 years of age or more.
  • Individuals having net taxable income less than Rs. 5 lakh and who do not need to claim a tax refund in the return.

The return can be filed offline by furnishing a return in a physical paper form or bar coded return.

The department will issue an acknowledgment receipt after successful submission.

Online:

Taxpayers can file ITR-4 online by:

  • Furnishing return electronically using a digital signature or;
  • You can verify using Electronic Verification Code (EVC), Aadhaar OTP or through net-banking.

Note: ITR-4 is an annexure-less form i.e., you do not have to attach any documents while filing ITR-4.

Download the ITR-4 Form

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One thought on “ITR-4 Form – Meaning, eligibility, due date and format

  1. Thanks for sharing this valuable blog with us. I am Looking for the information on this for very long but after reading this i am satisfied.

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