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ITR-4 Return Filing
ITR-4 Return Filing with Petax Filings
Seamless Tax Compliance for Your Business File your business tax returns effortlessly with Petax Filings. Our expert assistance and advanced compliance platform ensure accurate and timely ITR-4 return filing, helping you stay compliant with tax regulations.
Understanding ITR-4 (Sugam) Form
The ITR-4 Form, also known as the Sugam Form, is specifically designed for individuals, Hindu Undivided Families (HUFs), and firms (excluding LLPs) that opt for the presumptive taxation scheme under Sections 44AD, 44ADA, and 44AE of the Income Tax Act. This scheme simplifies tax filing by estimating income at a predefined rate, reducing the need for extensive record-keeping.
Note: If the business turnover exceeds Rs. 2 crores, the taxpayer must file ITR-3 instead. In some cases, ITR-5 may also be applicable.
Who is Eligible to File ITR-4?
The ITR-4 form is applicable for taxpayers with income from the following sources:
✔ Salary or Pension
✔ One House Property Income
✔ Income from Business (Presumptive Scheme – Turnover up to Rs. 2 crores)
✔ Professional Income (Presumptive Scheme – Gross Receipts up to Rs. 50 lakhs)
✔ Income from Goods Carriage Business (up to 10 Vehicles under Presumptive Scheme)
✔ Interest Income, Family Pension, and Other Sources
To qualify for ITR-4, the total taxable income should not exceed Rs. 50 lakh in the assessment year.
What is the Presumptive Taxation Scheme?
The Presumptive Taxation Scheme aims to ease tax compliance for small businesses and professionals by allowing them to declare income at a fixed percentage of their gross receipts.
✔ Section 44AD: Business income presumed at 8% (for cash transactions) or 6% (for digital transactions) of turnover (for resident individuals, HUFs, and partnership firms).
✔ Section 44ADA: Professionals such as doctors, lawyers, and consultants can declare 50% of gross receipts as income.
✔ Section 44AE: Owners of goods carriages (up to 10 vehicles) can file taxes based on a fixed income per vehicle.
Who Cannot File ITR-4?
The ITR-4 form is not applicable to:
❌ Company Directors
❌ Individuals Holding Unlisted Equity Shares
❌ Taxpayers with Foreign Income or Assets
❌ Partners in a Firm (except LLPs)
❌ Taxpayers Earning Capital Gains or Lottery Winnings
❌ Taxpayers with More Than One House Property
❌ Agricultural Income Exceeding Rs. 5,000
If any of these apply, taxpayers must file ITR-2 or ITR-3 instead.
Structure of the ITR-4 Form
The ITR-4 form consists of the following sections:
- Part A: General Information – Personal details, PAN, Aadhaar, address, contact details.
- Part B: Gross Total Income – Computation of income under Salary, House Property, Business, and Other Sources.
- Part C: Deductions & Taxable Income – Deductions under Sections 80C, 80D, 80E, etc.
- Part D: Tax Computation & Payment – Tax liability, advance tax, TDS, and rebates.
- Schedules:
- Schedule IT – Advance tax and self-assessment tax details.
- Schedule TDS1 – TDS on Salary.
- Schedule TDS2 – TDS on Other Income.
- Schedule TCS – Tax Collected at Source details.
No Attachments Needed: ITR-4 is an annexure-less return, meaning you don’t need to upload supporting documents.
Documents Required for ITR-4 Filing
To ensure smooth ITR-4 filing with Petax Filings, keep the following documents ready:
✔ PAN Card
✔ Aadhaar Card
✔ Bank Account Details
✔ Salary Slips (if applicable)
✔ Rental Agreement & Income Proof (if applicable)
✔ Investment Proof for Tax Exemptions
✔ Form 26AS (Tax Credit Statement)
✔ Business Financial Statements (for presumptive income)
✔ Sales & Purchase Bills
✔ GST Challans (if applicable)
✔ Bank Statements & Loan Details
✔ Foreign Income & Asset Details (if applicable)
Why Choose Petax Filings for ITR-4 Filing?
✔ Expert Assistance – Our tax professionals ensure accurate and hassle-free filing.
✔ Quick & Secure Filing – Fast processing with strict data confidentiality.
✔ Error-Free Compliance – Avoid mistakes that may lead to tax scrutiny.
✔ Timely Reminders – Never miss a deadline with our automated reminders.
✔ Affordable & Transparent Pricing – No hidden costs.
✔ Post-Filing Support – Get guidance on tax refunds, notices, and compliance issues.
File Your ITR-4 Today with Petax Filings!
Ensure timely and hassle-free tax compliance with our expert services. Contact Petax Filings now and let us simplify your ITR-4 return filing process!
Contact Us
Ready to Simplify Your Compliance Journey?
- 90030 22270
- Petaxfilings@gmail.com
- 848 Anna Salai, Saidapet, Chennai
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