ITR-4 Filing

24efiling makes filing ITR 4 quick and easy!  


What is ITR 4? 

ITR 4, also known as Sugam, is an income tax return form designed for specific taxpayers who opt for the presumptive taxation scheme under sections 44AD, 44ADA, and 44AE of the Income Tax Act. This scheme allows businesses and professionals to declare their income based on a pre-determined percentage of their total turnover, simplifying the tax filing process. 

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Who is eligible to file ITR 4?

You can file ITR 4 if you are: 

  • An individual, Hindu Undivided Family (HUF), or firm (excluding Limited Liability Partnerships) 

  • Opting for the presumptive taxation scheme under Sections 44AD, 44ADA, or 44AE 

  • Have income from: 

  • Business or profession under the chosen presumptive scheme 

  • Salary/pension up to Rs. 50 lakh 

  • One house property with income up to Rs. 50 lakh (excluding brought forward or carry forward losses) 

  • Other sources (excluding lottery and horse race winnings) up to Rs. 50 lakh 

 

Documents required for filing ITR 4: 

  • PAN card 

  • Aadhaar card (optional) 

  • Bank account details

  • Details of business income and expenses (if applicable) 

  • TDS certificates (if applicable) 

  • Investment proofs (if claiming deductions) 


Process of Filing ITR 4: 

  1. Gather required documents: Ensure you have all the necessary documents mentioned above. 

  1. Choose the filing method: You can file ITR 4 online on the Income Tax Department's website or offline using the ITR 4 form. 

  1. Fill the form: Carefully enter your income details, deductions, and tax calculations in the designated sections. 

  1. Verify and submit: Double-check all information before submitting the form electronically or physically. 


Limitations of ITR 4: 

  • Limited applicability: This form is only applicable to specific taxpayers under the presumptive scheme. 

  • Lower tax deductions: The presumptive scheme may not allow for claiming certain deductions you might be eligible for under regular tax filing methods. 

  • Turnover limit: If your business turnover exceeds Rs. 2 crores, you are not eligible to use ITR 4 and must file ITR 3. 


Checklist for Filing ITR 4: 

  • Ensure you meet the eligibility criteria. 

  • Gather all necessary documents. 

  • Choose your filing method (online or offline). 

  • Understand the presumptive scheme and its implications.

  • Carefully fill the ITR 4 form, verifying all details before submission. 

How can 24efiling help me file ITR 4?

24efiling provides extensive assistance to simplify and expedite your ITR 4 filing process. Our services include: 

  • Guided assistance: We offer step-by-step guidance throughout the filing process. 

  • Error checking: Our platform helps identify potential errors and inconsistencies in your form. 

  • Fast and secure filing: We ensure your tax return is submitted electronically and securely. 

  • Expert support: Our team of tax professionals is available to answer your questions and address any concerns. 

Don't wait! File your ITR 4 with 24efiling today and experience the ease and convenience of tax filing. Start Now!


Faq

We Made Things Easy For You!

A: The deadline for filing ITR 4 is usually July 31st of the assessment year. However, it's advisable to check the official Income Tax Department website for any updates or changes.

A: The presumptive scheme under ITR 4 limits the deductions you can claim compared to regular tax filing methods. It's recommended to consult a tax advisor for specific guidance.

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