ITR Form- 4 is also known as SUGAM. It is filed by those taxpayers who have opted for presumptive taxation scheme as per Section 44D, Section 44DAa and Section 44AE of the Income Tax Act, 1961. ITR 4 can be filed by individuals, Partnership firm as well as HUF. If the annual turnover of the business is being registered under the presumptive Taxation scheme exceeds Rs 2 Crores, the taxpayer is required to file ITR Form- 3.
As per the existing rule of Income Tax Act, 1961, HUF/Partnership firms and individuals having any of the following types of income are required to file ITR Form 4:
You can easily download the ITR-4 Sugam Form for free from the official website of the Income Tax Department Government of India. The following is the ITR Form 4 download link from the official website:
Individuals who fall under the following categories are not required to file ITR-4 even they are having a business income:
The assessee who keeps the record of book of accounts under Section 44AA with respect to concerning their business or profession.
In case the assessee gets the audit of the account and obtains the audited report under Section 44AB in respect to business or profession.
What is the structure of ITR-4?
Part A: General Information of tax assessee
Part B: Gross Total Income (Income and deduction under various heads)
Part C: Deductions and Taxable Total Income
Part D: Tax Computation & Tax Status
Verification and Signatures on Return
Schedule BP: Details of Income from Business
Schedule AL: Assets and Liability at the end of the year (only applicable when the total income exceeds Rs. 50 lakhs)
Schedule IT: Statement of payment of advance tax
Schedule TCS: Statement of Tax Collected at Source
Schedule TDS1: Statement of Tax Deducted at Source on Salary
Schedule TDS2: Statement of Tax Deducted at Source on income other than Salary
How to File ITR Form 4 (SUGAM) Online?
Taxpayers eligible to file ITR 4 can do so electronically through the e-filing portal of the Income Tax Department. You can file ITR either using digital signature else you can verify it using Electronic Verification Code (EVC), Aadhaar OTP or through net-banking.
Since ITR-4 (SUGAM) is an annexure-less form, the assessee is not required to upload any attachments when filing the ITR4.
How to file ITR-4 Form online?
ITR4 can be filed offline only if taxpayers fall into any of the following categories:
Individuals who are 80 years of age or more.
Individuals having net taxable income of not more than Rs. 5 lakh and who do not need to claim a tax refund in the return.
Returns under ITR 4 (SUGAM) can be filed by eligible individuals for offline mode by furnishing the return in physical form to the Income Tax Department. The department will issue an acknowledgment receipt after successful submission.
What is the presumptive taxation scheme under Section 44AD?
The presumptive taxation scheme under Section 44AD facilitates small business by saving them from the tedious task of maintaining books and accounts. All those businesses which are registered under Section 44AD are not required to maintain their accounts on a regular basis. They can pay tax according to the prescribed rate while filing their Income Tax Return using ITR Form-4.
