Expert Assistance for ITR-4 (SUGAM) Form Filing

The ITR-4 form, also known as the SUGAM form, is designed for taxpayers opting for the Presumptive Taxation Scheme under Sections 44AD, 44ADA, and 44AE of the Income Tax Act. Taxpayers with eligible income must file this form to comply with income tax regulations. Businesses with annual turnover exceeding ₹2 Crores should instead file ITR-3. In certain cases, ITR-5 may also be applicable. At Taxation Point India, we provide expert guidance for accurate and timely ITR-4 filing.

Who is Eligible to File ITR-4?

ITR-4 is intended for individuals, Hindu Undivided Families (HUFs), and firms (excluding LLPs) who opt for the presumptive taxation scheme under Sections 44AD, 44ADA, and 44AE. Eligible taxpayers include:

• Individuals or HUFs with income from salary, pension, or a single house property.
• Business income computed on a presumptive basis (turnover up to ₹2 Crores under Section 44AD).
• Income from goods carriage with up to ten vehicles (Section 44AE).
• Professionals reporting presumptive income under Section 44ADA (gross receipts up to ₹50 lakh).
• Income from interest or family pension taxable under “Other Sources.”

What is a Presumptive Taxation Scheme?

The Presumptive Taxation Scheme simplifies tax compliance for small taxpayers. Instead of maintaining detailed books of accounts (as per Section 44AA), eligible taxpayers can declare income at prescribed rates:

• Section 44AD: For small businesses, allows estimating income on a presumptive basis.
• Section 44ADA: For professionals, enables presumptive calculation of professional income.
• Section 44AE: For goods carriage owners, income can be estimated if not exceeding ten vehicles.

Who Cannot Use ITR-4?

The SUGAM form is not applicable to:

• Directors of companies or holders of unlisted equity shares.
• Taxpayers with foreign assets or income from abroad.
• Income from multiple house properties, capital gains, lottery winnings, racehorses, or special rates under Sections 115BBDA/115BBE.
• Agricultural income exceeding ₹5,000.
• Cases involving losses or deductions not covered under the presumptive taxation scheme.

Structure of ITR-4 Form

• Part A – General Information: Personal details including PAN, Aadhaar, address, contact details, and income tax ward.
• Part B – Gross Total Income: Income from business, salary/pension, house property, and other sources, summed to calculate gross total income.
• Part C – Deductions and Total Taxable Income: Deductions under Sections 80C, 80D, 80E, and others are subtracted to arrive at taxable income.
• Part D – Tax Computation and Status: Includes tax liability calculation, surcharge, rebate under Section 87A, interest under Sections 234B/234C, advance tax, TDS, TCS, and refund details.

Schedules in ITR-4

• Schedule IT: Advance tax and self-assessment tax payments.
• Schedule TCS: Tax collected at source details.
• Schedule TDS1: Tax deducted at source on salary.
• Schedule TDS2: Tax deducted on income other than salary.

Documents Required for ITR-4 Filing

To ensure smooth and accurate filing of your ITR-4, keep the following documents ready:

• PAN Card and Aadhaar Card
• Bank account details (account number and IFSC code)
• Form 16 / Form 16A (if applicable)
• Books of accounts or income records for presumptive income
• Financial statements, if maintained
• TDS certificates for income from other sources
• Investment details for claiming deductions under Sections 80C, 80D, 80E, etc.
• Details of house property income (if applicable)
• Other income documents (interest, family pension, etc.)
• Advance tax and self-assessment tax payment receipts
• TCS statements, if any

Annexure-less Filing

The ITR-4 (SUGAM) form does not require submission of supporting documents, including TDS certificates. However, taxpayers should retain all relevant records for verification if requested by the tax authorities.

Why Choose Taxation Point India for ITR-4 Filing?

• Expert Guidance: Our professionals ensure accurate filing and verify ITR-4 applicability.
• Convenience: File your return online from anywhere without paperwork.
• Accuracy: We review all computations to minimize errors and avoid notices.
• Timely Filing: Ensure prompt submission and compliance with deadlines.

File your ITR-4 (SUGAM) with Taxation Point India for a seamless and compliant filing experience.
Contact us today for expert assistance and support at every step.