ITR4 Return

An Income Tax Return (ITR) is a mandatory document used to report income earned and taxes paid to the Income-tax Department within a fiscal year. Filing an ITR ensures tax compliance, enables taxpayers to carry forward losses, and facilitates tax refunds from tax authorities. Different ITR forms cater to various taxpayer categories based on income sources and business structures. Additionally, businesses must ensure GST return filing to maintain compliance with tax regulations. For seamless tax filing, individuals and businesses can seek professional tax consultancy services. ITR forms are available for download at www.incometaxindia.gov.in.

Brief Description of ITR-4 Return

Form ITR – 4 (SUGAM) can be u​sed by an Individual/HUF/Firm (Other than LLP)​ whose total income for the year includes:

1. Business income computed as per the provisions of section 44AD or​44AE; or​
2. Income from Profession as computed as per the provisions of​44ADA; or
3. Income from salary/pension; or
4. Income from one house property (excluding cases where loss is brought forward from previous years); or
5. Income from other sources (excluding winnings from lottery and income from race horses dividend income in excess of Rs. 10 lakhs or unexplained Income, etc. as referred to in section 115BBE)

Further, in a case where the income of another person like spouse, minor child, etc., is to be clubbed with the income of the taxpayer, this return form can be used where income to be clubbed falls in any of the above categories. ​