Understanding ITR-4 Form Filing
ITR-4, also known as Sugam, is designed for individuals, Hindu Undivided Families (HUFs), and partnership firms (excluding LLPs) who earn income under the presumptive taxation scheme under Sections 44AD, 44ADA, or 44AE of the Income Tax Act. This form is ideal for small businesses, freelancers, and professionals who prefer simplified taxation without maintaining detailed books of accounts.
ITR-4 Form Filing Online has become easier due to the user-friendly e-filing portal, quick verification methods, and automated data validation features. Filing online also reduces errors and ensures accuracy in calculations.
Who Should File ITR-4?
ITR-4 is suitable for taxpayers who earn income from business or profession under presumptive taxation. This includes small traders, shop owners, consultants, freelancers, and transport operators earning income under 44AE. It is also relevant for taxpayers with additional income such as salary, pension, or one house property, provided the total income does not exceed ₹50 lakh.
Using ITR-4 Form Filing Online helps such taxpayers complete the filing process seamlessly without complex documentation.
Eligibility Criteria for ITR-4
To file ITR-4, the taxpayer must meet these conditions:
- Income from business under Section 44AD.
- Income from profession under Section 44ADA.
- Income from goods carriage under Section 44AE.
- Total income up to ₹50 lakh.
Individuals with capital gains, foreign income, or more than one house property cannot use ITR-4.
Benefits of ITR-4 Form Filing
Filing ITR-4 offers multiple benefits, especially for small businesses and independent professionals. The presumptive taxation scheme reduces the burden of maintaining detailed accounting records, allowing taxpayers to declare income at fixed percentage rates. This leads to simplified compliance and faster filing.
Another major benefit is the convenience of ITR-4 Form Filing Online, which allows users to file returns from anywhere at any time. The online system automatically fetches data like TDS details, tax payments, and personal information, reducing manual entry.
How to File ITR-4 Form Online
Step 1: Visit the e-Filing Portal
Go to the official income tax e-filing portal and log in using your PAN and password.
Step 2: Choose ITR-4
Navigate to “File Income Tax Return,” select the assessment year, and choose ITR-4 as your form type.
Step 3: Enter Required Details
Provide details related to personal information, income sources, business or professional income under presumptive taxation, and tax deductions.
Step 4: Verify Tax Details
The system auto-fills tax payments and TDS data. Cross-check and ensure accuracy.
Step 5: Submit and e-Verify
After filing your form, complete verification through Aadhaar OTP, net banking, or other available methods.
Why Choose ITR-4 Form Filing Online?
ITR-4 Form Filing Online makes the entire process faster, secure, and more convenient. It minimizes errors and ensures that all necessary information is validated instantly. This method is widely preferred due to its transparency, ease of use, and accessibility.
Conclusion
ITR-4 is the most convenient return form for small business owners and independent professionals opting for presumptive taxation. With ITR-4 Form Filing Online, taxpayers can complete their filing smoothly, accurately, and without professional support. Filing on time helps avoid penalties and ensures financial compliance for the year.