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ITR-4 Return Filing

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ITR-4 (SUGAM) Return Filing

Presumptive Income Tax Return for Small Businesses & Professionals

As per Income Tax Act, 1961 | Income Tax Department (India)

Overview
Who Should File
Presumptive Sections
Documents Required
Filing Process
Due Date & Penalty
FAQs

ITR-4 (SUGAM) is applicable to resident Individuals, HUFs, and Firms (other than LLP) who opt for the Presumptive Taxation Scheme.

Under this scheme, income is declared at a prescribed percentage of turnover, eliminating the need to maintain detailed books of accounts.

Who Can File ITR-4?

  • Resident Individual / HUF / Partnership Firm (non-LLP)
  • Small traders, shop owners, service providers
  • Freelancers & professionals opting presumptive taxation
  • Total income up to ₹50 lakh

Who Cannot File ITR-4?

  • Companies & LLPs
  • Non-resident or RNOR individuals
  • Persons having capital gains
  • Income from more than one house property
  • Foreign income or foreign assets

Presumptive Taxation Sections Covered

Section Applicable To Presumptive Income
44AD Small businesses 8% of turnover (6% for digital receipts)
44ADA Professionals 50% of gross receipts
44AE Transport operators Fixed income per vehicle
Once opted, presumptive scheme has lock-in conditions in some cases.

Documents Required for ITR-4 Filing

  • PAN Card & Aadhaar Card
  • Bank account details
  • Turnover / gross receipts summary
  • GST returns (if applicable)
  • Form 26AS, AIS & TIS
  • Details of advance tax paid
Detailed books of accounts are not required under presumptive taxation.

ITR-4 Filing Process

  • Confirm eligibility for presumptive taxation
  • Collect turnover / receipt details
  • Verify AIS, TIS & Form 26AS
  • Compute tax liability
  • Prepare & file ITR-4 online
  • e-Verification of return

Due Date & Late Filing Penalty

  • Normal due date: 31st July
  • Late fee up to ₹5,000 (Section 234F)
  • Interest under Sections 234A/B/C
Incorrect use of presumptive scheme may lead to scrutiny and penalties.

Frequently Asked Questions (FAQs)

  • Is audit required for ITR-4? – No.
  • Can professionals file ITR-4? – Yes, under Section 44ADA.
  • Is GST mandatory? – Not mandatory, but details may be required.
  • Can I switch to normal taxation later? – Yes, subject to conditions.
  • Is balance sheet required? – No.

Income Tax Return (ITR) Forms – Complete Comparison

ITR-1 to ITR-7 | Applicability, Documents & Due Dates (India)

ITR Comparison
Documents Required
Due Date & Audit

📊 ITR-1 to ITR-7 Comparison Table

ITR Form Who Should File Income Covered Business Income
ITR-1 (Sahaj) Resident Individuals Salary, 1 House Property, Other Sources No
ITR-2 Individuals / HUFs Capital Gains, Multiple Properties, Foreign Income No
ITR-3 Individuals / HUFs Business / Professional Income Yes
ITR-4 (Sugam) Individuals / HUFs / Firms Presumptive Income Yes (Presumptive)
ITR-5 Firms, LLPs, AOPs Business & Other Income Yes
ITR-6 Companies All Income (Except Exempt) Yes
ITR-7 Trusts / NGOs / Institutions Exempt Income Specific
Filing the wrong ITR form may result in a Defective Return Notice (Section 139(9)).

📂 Documents Required – ITR-Wise

ITR-1

  • PAN & Aadhaar
  • Form-16
  • Bank statement
  • Form 26AS / AIS

ITR-2

  • PAN & Aadhaar
  • Capital gains statement
  • Property sale/purchase documents
  • Foreign income/assets details

ITR-3

  • Books of accounts
  • Profit & Loss Account
  • Balance Sheet
  • GST returns (if applicable)
  • Audit report (if applicable)

ITR-4

  • Turnover / receipt summary
  • Bank statement
  • GST details (if registered)

ITR-5

  • PAN of Firm / LLP
  • Partnership Deed / LLP Agreement
  • Balance Sheet & P&L
  • Audit report (if applicable)

ITR-6

  • Company PAN
  • MOA & AOA
  • Audited financial statements
  • Tax audit report

ITR-7

  • Trust Deed / MOA
  • 12AB / 10(23C) Registration
  • Audit Report (Form 10B / 10BB)
  • Donation & utilization details

📅 Due Date & Audit Applicability

ITR Form Audit Applicable Due Date
ITR-1 / ITR-2 / ITR-4 No 31st July
ITR-3 / ITR-5 Yes (If applicable) 31st July / 31st October
ITR-6 Yes (Mandatory) 31st October / 30th November
ITR-7 Yes 31st October
Audit report must be filed before filing the Income Tax Return.

Comparison: ITR-3 vs ITR-4

Choose the Correct Income Tax Return for Business & Professionals (India)

As per Income Tax Act, 1961

📊 ITR-3 vs ITR-4 – Quick Comparison

Particulars ITR-3 ITR-4 (SUGAM)
Applicable To Business owners & professionals (normal taxation) Small businesses & professionals opting presumptive scheme
Taxation Method Actual income & expenses Presumptive income
Relevant Sections Normal provisions 44AD / 44ADA / 44AE
Books of Accounts Mandatory Not required
Audit Requirement Applicable if limits crossed Not applicable
Income Limit No upper limit Up to ₹50 lakh
Business Turnover No restriction Up to ₹2 crore (44AD)
Professional Receipts No restriction Up to ₹50 lakh (44ADA)
Capital Gains Allowed Yes No
Foreign Income / Assets Allowed Not allowed
Multiple House Properties Allowed Not allowed
GST Details Usually required Basic turnover info only
Ideal For Growing businesses, traders, consultants Small traders, freelancers, professionals
✔ Choose ITR-4 if:
• You want simple taxation
• You don’t want to maintain books
• Your income is within presumptive limits
✔ Choose ITR-3 if:
• You want to claim actual expenses
• Your income exceeds presumptive limits
• You have capital gains or foreign income
Important: Filing the wrong ITR may lead to defective return notices or scrutiny. Always select the return based on income structure.

📞 Need Help Choosing the Right ITR?

GSTBUY.COM provides expert guidance to ensure correct ITR selection, accurate filing, and maximum tax compliance.

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