ITR 4
An Income Tax Return (ITR) is a prescribed form or statement through which a taxpayer furnishes details of their total income, applicable deductions, tax liability, taxes paid, and refund due, if any, to the Income Tax Department for a particular tax year.
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ITR-4 (SUGAM) Form Is For Whom?
ITR-4 stands for Income Tax Return Form 4 (SUGAM).
ITR-4 is a simplified Income Tax Return form applicable to eligible Resident Individuals, Hindu Undivided Families (HUFs) and Partnership Firms (other than LLPs) having business or professional income calculated under the Presumptive Taxation Scheme.
ITR-4 is applicable to the following taxpayers:
1. Resident Individual (other than RNOR).
2. Resident Hindu Undivided Family (HUF).
3. Resident Partnership Firm (other than LLP).
4. Taxpayers having presumptive business or professional income under Sections 44AD, 44ADA or 44AE.
5. Total income up to ₹50 lakh.
TR-4 is NOT applicable to:
1. Non-Resident Indians (NRIs) and RNOR.
2. Persons having total income exceeding ₹50 lakh.
3. Company Directors.
4. Persons holding unlisted equity shares.
5. Persons having short-term capital gains.
6. Persons having LTCG under Section 112A exceeding ₹1.25 lakh.
7. Persons having agricultural income exceeding ₹5,000.
8. Persons having assets or financial interests outside India.
9. Persons having signing authority in foreign bank accounts.
10. Persons having foreign-source income.
11. Persons having more than two house properties.
12. Persons having brought-forward losses or losses to be carried forward.
13. Persons having lottery winnings or racehorse income.
14. Persons having income taxable at specified special rates or falling under other prescribed exclusions.
ITR-4 (SUGAM) – DOCUMENTS REQUIRED
Applicable for: Eligible Resident Individuals, HUFs and Partnership Firms (other than LLPs) opting for presumptive taxation under the applicable provisions for business, profession or goods carriage.
Documents Checklist
1. Basic Documents
1. PAN Card.
2. Aadhaar Card.
3. Mobile Number and Email ID.
4. Bank Account Details.
5. Previous Year ITR Acknowledgement.
2. Business / Professional Documents
6. Business Registration Certificate, if applicable.
7. GST Registration Certificate, if applicable.
8. Sales / Turnover Details.
9. Gross Receipts Details.
10. Cash and Bank Transaction Details.
11. Business Bank Statements.
12. Details of Business Activities.
13. Details of Goods Carriages, if applicable.
3. Income from Other Sources
13. Salary / Pension Details, if applicable.
14. Savings Account and FD Interest Certificates.
15. House Property / Rental Income Details, if applicable.
16. Dividend Income Details, if applicable.
17. Agricultural Income Details, if applicable.
4. Tax & Deduction Documents
18. Form 130 – Salary TDS, Form 131 – Non-Salary TDS, Form 132 – Specified Transaction TDS, and Form 133 – TCS Certificate.
19. Form 168.
20. Annual Information Statement (AIS).
21. Taxpayer Information Summary (TIS).
22. LIC / Life Insurance Premium Receipts.
23. Health Insurance Premium Receipts.
24. Investment and Eligible Deduction Proofs.
25. Home Loan Interest Certificate, if applicable.
26. Advance Tax / Self-Assessment Tax Challans.
5. Additional Documents
27. Rent Agreement / Rent Receipts, if applicable.
28. Donation Receipts, if applicable.
29. Capital Gains Statement, if applicable.
30. Bank Account Details for Income Tax Refund.
Important Notes:
- ITR-4 is for eligible taxpayers declaring presumptive income.
- Keep all supporting documents ready for verification; they are generally not uploaded with the return.
- Additional documents may be required depending on the taxpayer's income sources and deductions
ITR-4 stands for Income Tax Return Form 4 (SUGAM).
ITR-4 is a simplified Income Tax Return form applicable to eligible Resident Individuals, Hindu Undivided Families (HUFs) and Partnership Firms (other than LLPs) having business or professional income calculated under the Presumptive Taxation Scheme.
ITR-4 is applicable to the following taxpayers:
1. Resident Individual (other than RNOR).
2. Resident Hindu Undivided Family (HUF).
3. Resident Partnership Firm (other than LLP).
4. Taxpayers having presumptive business or professional income under Sections 44AD, 44ADA or 44AE.
5. Total income up to ₹50 lakh.
TR-4 is NOT applicable to:
1. Non-Resident Indians (NRIs) and RNOR.
2. Persons having total income exceeding ₹50 lakh.
3. Company Directors.
4. Persons holding unlisted equity shares.
5. Persons having short-term capital gains.
6. Persons having LTCG under Section 112A exceeding ₹1.25 lakh.
7. Persons having agricultural income exceeding ₹5,000.
8. Persons having assets or financial interests outside India.
9. Persons having signing authority in foreign bank accounts.
10. Persons having foreign-source income.
11. Persons having more than two house properties.
12. Persons having brought-forward losses or losses to be carried forward.
13. Persons having lottery winnings or racehorse income.
14. Persons having income taxable at specified special rates or falling under other prescribed exclusions.
ITR-4 (SUGAM) – DOCUMENTS REQUIRED
Applicable for: Eligible Resident Individuals, HUFs and Partnership Firms (other than LLPs) opting for presumptive taxation under the applicable provisions for business, profession or goods carriage.
Documents Checklist
1. Basic Documents
1. PAN Card.
2. Aadhaar Card.
3. Mobile Number and Email ID.
4. Bank Account Details.
5. Previous Year ITR Acknowledgement.
2. Business / Professional Documents
6. Business Registration Certificate, if applicable.
7. GST Registration Certificate, if applicable.
8. Sales / Turnover Details.
9. Gross Receipts Details.
10. Cash and Bank Transaction Details.
11. Business Bank Statements.
12. Details of Business Activities.
13. Details of Goods Carriages, if applicable.
3. Income from Other Sources
13. Salary / Pension Details, if applicable.
14. Savings Account and FD Interest Certificates.
15. House Property / Rental Income Details, if applicable.
16. Dividend Income Details, if applicable.
17. Agricultural Income Details, if applicable.
4. Tax & Deduction Documents
18. Form 130 – Salary TDS, Form 131 – Non-Salary TDS, Form 132 – Specified Transaction TDS, and Form 133 – TCS Certificate.
19. Form 168.
20. Annual Information Statement (AIS).
21. Taxpayer Information Summary (TIS).
22. LIC / Life Insurance Premium Receipts.
23. Health Insurance Premium Receipts.
24. Investment and Eligible Deduction Proofs.
25. Home Loan Interest Certificate, if applicable.
26. Advance Tax / Self-Assessment Tax Challans.
5. Additional Documents
27. Rent Agreement / Rent Receipts, if applicable.
28. Donation Receipts, if applicable.
29. Capital Gains Statement, if applicable.
30. Bank Account Details for Income Tax Refund.
Important Notes:
- ITR-4 is for eligible taxpayers declaring presumptive income.
- Keep all supporting documents ready for verification; they are generally not uploaded with the return.
- Additional documents may be required depending on the taxpayer's income sources and deductions
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