Who can use ITR-4 form for filing income tax return?

ITR-4 Income tax return is filed through ITR form which is based on the income earned by an assessee. Most individuals are confused about which ITR form they should use for filing their income tax return. Here is a brief discussion on ITR-4 and ITR-4S & its applicability. Who can use the ITR-4 ITR-4 Form is used by an Individual or HUF who is carrying out a proprietary business or profession and who are not filing Return under Presumptive Taxation Scheme. The following income can be included in ITR-4 form:

  • Income from Salary/Pension
  • Income or Losses from House property
  • Income from Business Profession
  • Income or Losses from Capital gains
  • Income or Losses from Other Sources

Moreover, every Partnership firms, Individuals & HUF having their tax audits mandatorily u/s 44AB is required to file their ITR-4 Electronically using digital signature. Who cannot use the ITR-4 An Individual or a HUF computing business income from Presumptive Taxation Scheme are not eligible to file ITR-4. For Presumptive Business Income, an assessee files ITR-4S (SUGAM). Points to be noted:

  • No annexure of any documents is required.
  • ITR-4 can be filed with IT Department either by furnishing details manually or electronically under digital signature.

We at Taxmantra.com would be able to help you in filing of tax returns and also other tax related issues. Please feel free to check this page – Income tax return Filing  OR call us at +91 88 208208 11, +919230033070  OR email us at ‘info@taxmantra.com’