ITR-4 form can be used for filing IT return under the Presumptive Taxation Scheme if business turnover is less than Rs.2 crores if professional income is less than Rs.50 lakhs.
Penalty
Penalty upto Rs.10000/- will be levied, if not filed on due date
Documents Required For ITR-1 Filing
- Form-16
- Salary Slips
- Interest certificates from Post Offices & Banks
- Form 16A/16B/16C
- Form 26AS
- Tax-Savings Investment Proofs
- Deductions under Section 80D to 80U
- Home Loan statement from NBFC/Bank
- Capital Gains
- Aadhar Card
All About Form ITR-4 (SUGAM) Income Tax Return
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.
Who all can file Form ITR-4?
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.
Individuals who cannot file Form ITR-4?
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
In the above cases ITR-3 should be filed.
Companies cannot file ITR-4 as it is applicable only for individuals / HUFs and Professionals. Companies need to file ITR-6 or ITR-7 based on applicability.
Pay As You Widen Pricing
(ALL INCLUSIVE PRICING)
Basic
Rs.7899
Income tax return filling for an individual with salary income of less than Rs.5 lakhs.
Regular
Rs.9899
Income tax return filling for an individual with salary income of less than Rs.5 lakhs.
Privilege
Rs.11899
Income tax return filling for an individual with salary income of more than Rs.10 lakhs.