Documents Required
- Bank Statement
- PAN Card
- Aadhar Card
Features
ITR-4 Return Filing
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TaxInno’s Tailored Solutions for ITR-4 Filing
The ITR-4 Form, also known as the Sugam form, is designed for taxpayers who opt for the presumptive income scheme under Section 44AD, Section 44ADA, and Section 44AE of the Income Tax Act. This form simplifies the filing process for small businesses and professionals by allowing them to report income on a presumptive basis, reducing the need for maintaining detailed accounts.
However, businesses with annual turnover exceeding ₹2 Crores must file ITR-3 instead. Depending on specific circumstances, ITR-5 may also apply. TaxInno offers expert assistance for ITR-4 filing. Contact our experts to ensure a smooth, accurate filing process.
Who is Eligible to File Form ITR-4?
The ITR-4 form is for individuals, Hindu Undivided Families (HUFs), and firms (excluding Limited Liability Partnerships (LLPs)) who opt for the presumptive taxation scheme under the following sections:
| Eligibility Criteria | Details |
| Section 44AD | Available for small businesses with turnover up to ₹2 Crores. |
| Section 44ADA | Available for professionals with gross receipts up to ₹50 Lakh. |
| Section 44AE | Available for businesses engaged in the plying, leasing, or hiring of goods carriages with a maximum of 10 vehicles. |
What is the Presumptive Taxation Scheme?
The presumptive taxation scheme allows eligible taxpayers to estimate their income at a prescribed rate, reducing the burden of maintaining detailed accounts. Here’s how it works under the relevant sections:
| Section | Description |
| Section 44AD | For small businesses (individuals, HUFs, partnership firms) with turnover up to ₹2 Crores. Income is presumed at 8% (or 6% for digital transactions). |
| Section 44ADA | For professionals (doctors, lawyers, etc.) with gross receipts up to ₹50 Lakh. Income is presumed at 50% of gross receipts. |
| Section 44AE | For businesses plying, leasing, or hiring up to 10 goods carriages. Income is presumed based on the number of vehicles owned. |
Eligibility Criteria for Filing SUGAM (ITR-4) Form
To qualify for the ITR-4 form, the taxpayer must meet the following criteria:
| Criteria | Details |
| Total Income | Should not exceed ₹50 Lakh. |
| Income Sources | Income from Salary/Pension, House Property, Interest, and Business (presumptive basis). |
| Business Income | Business turnover must be ₹2 Crores or less for presumptive taxation (Section 44AD). |
| Professional Income | For professionals under Section 44ADA, gross receipts must be up to ₹50 Lakh. |
| Income from Goods Carriages | For Section 44AE, income is presumed if owning up to 10 vehicles. |
Important Note: If losses are incurred under presumptive schemes, the taxpayer must file ITR-5 instead.
Non-Applicability of ITR-4 SUGAM Form
Certain categories of taxpayers cannot use the ITR-4 form:
| Non-Eligible Taxpayers | Reason |
| Directors of a Company | They are not eligible for ITR-4. |
| Holders of Unlisted Equity Shares | If they held unlisted equity shares during the year. |
| Foreign Assets/Interests | If the taxpayer has assets or financial interests outside India. |
| Income from More than One House Property | This income requires filing under different forms. |
| Income from Speculative Business, Lottery, or Racehorses | Presumptive schemes do not apply. |
| Capital Gains | Income from capital gains is excluded from ITR-4 eligibility. |
| Agricultural Income Over ₹5,000 | Agricultural income exceeding ₹5,000 is excluded. |
Additionally, the SUGAM form cannot be used by individuals claiming deductions or tax credits under certain sections like Section 57 (except family pension) or having losses carried forward.
Structure of the ITR-4 Form
The ITR-4 form consists of four parts, allowing taxpayers to report their income, deductions, and tax liabilities:
| Section | Purpose |
| Part A: General Information | Provide personal details: name, PAN, address, contact information, etc. |
| Part B: Gross Total Income | Report income from various sources: business, salary, house property, etc. |
| Part C: Deductions & Taxable Income | List eligible deductions (80C, 80D, etc.) to calculate taxable income. |
| Part D: Tax Computation | Calculate tax payable, including surcharge, advance tax, and tax credits. |
Additional Schedules for Business and Professionals
If you’re reporting income from a business or profession under the presumptive scheme, you may need to fill additional schedules:
| Schedule | Purpose |
| Schedule IT | Statement of advance tax and self-assessment tax payments. |
| 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 (TDS) on other income sources. |
Note: Annexure-less Filing – You are not required to upload additional documents (such as TDS certificates) when using ITR-4.
Why Choose TaxInno for ITR-4 Filing?
At TaxInno, we ensure that your ITR-4 filing process is easy, accurate, and on time. Here’s why you should choose us:
| Feature | Benefit |
| Expert Guidance | Benefit from professional guidance at every step of the filing process. |
| Convenience | File your ITR-4 conveniently online from anywhere. |
| Accuracy | We ensure that your form is free of errors, reducing tax-related risks. |
| Timely Filing | Ensure your taxes are filed on time to avoid penalties and interest. |
| Post-Filing Support | Receive assistance even after your filing is complete. |
How TaxInno Simplifies Your ITR-4 Filing
TaxInno makes ITR-4 filing quick and easy by providing the following:
| Service | How We Help |
| Expert Assistance | Our team of professionals guides you through the entire process. |
| Document Management | We assist in managing and uploading your documents securely. |
| Tax Calculation & Deductions | Optimize deductions and ensure accurate tax calculation. |
| Timely Reminders | Get notified about key filing dates to avoid penalties. |
| Secure & Easy Filing | Our platform ensures your data is handled securely. |
Get Started with TaxInno Today!
Filing your ITR-4 return is crucial for meeting your tax obligations. Let TaxInno take the complexity out of the process, ensuring accurate, timely, and hassle-free filing.
Contact us today to get started with ITR-4 filing and enjoy expert assistance every step of the way!
