Now you can read this page in Hindi.Change language to हिन्दी

ITR Form 4 Sugam

Should you file form ITR-4 Sugam? Get to know more eligibility and documentation required for the same. Also know how we can complete the whole process in just a few clicks.

Get Started!
Select State*
Select Language*
Get easy updates throughWhatsapp

Easy monthly EMI options available

No Spam. No Sharing. 100% Confidentiality.

noimage400,000 +

Business Served


Google Ratings


Easy EMI Options

Form ITR-4 Sugam -Overview

According to Sections 44AD and 44AE of the Income Tax Act, the Form ITR-4S is the Income Tax Return form for taxpayers who have chosen the presumptive income scheme. However, the taxpayer must file an ITR-4 if the business's annual revenue exceeds ₹2 crores. The ITR-4S form must be submitted by 31 July of every year.

  • Your company's gross receipts or sales must be less than ₹2 crore in order to qualify for this programme
  • You must be an Indian resident
  • An individual, a HUF, or a partnership firm may use this scheme. A company cannot access it.

Who Should File ITR form 4

Small business owners who have a volume of sales ledgers and no books of accounts are required to file Form ITR-4. Online retailers, merchants, wholesalers, manufacturers, etc. are included in this.

Also independent contractors like bloggers, vloggers, and writers of online content must submit Form ITR-4. Additionally, this form must be filed by professionals such as chartered accountants, physicians, lawyers, and engineers.

ITR-4 Forms must also be filed by people who receive a salary in addition to additional income from side jobs or freelancing. Additionally, this specific form must be filed by anyone who earns money through futures and options (F&O), cryptocurrency, commodities, or FX.

Documents Required to File ITR-4

The following documents are crucial for filing ITR 4

  • Form 26AS & AIS
  • Form 16
  • Form 16A
  • Bank statements
  • Housing loan interest certificate
  • Receipts for donations madeRental/lease agreement
  • Investment receipts

Presumptive Taxation Scheme

When you manage a small business, you might not have enough resources to keep accurate accounting records and determine your profit or loss. This makes tracking your income from such a firm and determining how much tax you owe challenging. In light of this, the Income Tax Department has established some straightforward provisions under which your income is based on the gross receipts of your company. The presumptive method is one in which tax is paid on an estimated basis. Characteristics of this Plan are explained below.

  • Section 44AD: For individual taxpayers and residents under Hindu United family engaging in specific commercial activities with a particular estimated income is calculated
  • Section 44ADA: With certain limitations, an assessee who resides in India and practises one of the professions listed in Section 44AA (1) will have their professional income calculated on an approximation.
  • Section 44AE: Individual taxpayers, HUF and other people both residence and non residence of India engaging in business operating or hiring goods and carriages who at the previous year own no more than 10 such carriages income is estimated under the section.

Steps to File ITR-4 Form

Step 1: Visit Official Website

On the official website enter using your login credential. Click the 'Start Filing' button to start the ITR filing onlline. The next step is for you to link your permanent account number and add yourself as a client (PAN).

Step 2: Fill in the details

fill personal and salary information. You just need to do another OTP verification. You can see a glimpse of your pre-filled personal and financial data below. Go to 'Revenue sources' and enter information about business income there.

Step 3: Input details of incomes

Add income from business or profession. Enter details about 44AD, 44ADA, and 44AE

Step 4: Follow the process

Enter 8 no income from topics of account. Type of enterprise. expand, scroll down If regular books of accounts are not kept, enter the information here and save it. Now, if necessary, enter the audit information. Go to the 'Revenue sources' dashboard and enter more income information, such as salary, rental income from real estate, capital gains tax, and other sources.

Step 5: Add deductions

Once all the income information has been entered, select the 'Deductions' option and review the investment information (such as LIC, PPF, etc.). You can change the fields and claim tax advantages here to include extra information that will save you money on taxes. For instance, Section 80TTA allows you to claim up to ₹10,000 in interest received on your savings account.

Step 6: File disclosure details

Let's now examine the terms listed under the other disclosures tab. Fill out the areas that apply to you if any of them do. For instance, you must complete Schedule AL if your net income after deductions is greater than ₹50 lakh. If your assets and liabilities weren't already listed on the balance sheet, list them all here. If you are a non-resident or a 'resident but not habitually resident' you must only provide information about your Indian assets.

Step 7: Select Tax Regime

A tax summary can be seen at the end. You must select the same regime as last year, whether it was new or old. Please be aware that you will not be able to switch the tax regime each year if you choose the new system for the first time. Only once in a business's lifespan can it choose the new tax regime. Read each and every condition in the essay summary before e-filing.

Step 8: submit a self-declaration

After filling out these categories, you would also submit a self-declaration. You must authorise that all the data in the rescue is detailed to the best of your awareness, including the percentages. You can now proceed by clicking 'Proceed to e-File'. Your payment was received, and the income tax division is receiving your return.

Step 9: File your ITR

You will receive a message with the ITR filing acknowledgement number once the payment has been completed. The ITR is finally successfully delivered to the income tax division.

Another best way to avoid all such hassle is filing ITR form through Vakilsearch. Yes, we can complete the whole process in just a few clicks.

Why Vakilsearch?

Vakilsearch has a team of A+ tax experts who can help in resolving all your queries and filing your taxes on your behalf. It's easy , quick and affordable. All you have to do is get in touch with our exports and provide the required reports. Our in house experts will cross check everything before filing your taxes so the possibility of error is zero.

Recent Update

The ITR-4 Form underwent the following significant changes for the assessment year (AY) 2022–2023:

  • If Form No. 10-IE was submitted in FY 2020–21, you must also state whether you chose the new tax regime under Section 115 BAC. Additionally, you have a choice as to whether you want to participate in the new tax system for FY 2021–2022 or not
  • A citizen individual is only authorised to file the Form ITR4 if they have income tax postponed on an employee stock ownership plan (ESOP)
  • It must be possible to break down dividend income into quarterly amounts
  • The schedule DI that was added for AY 2020–21 has been eliminated.
Get me more details
Select State*
Select Language*

Easy monthly EMI options available

No Spam. No Sharing. 100% Confidentiality.