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ITR 4 form Filing online

ITR-4 online form filing step by step guide

Jun 10, 2022

ITR-4 Form

The Income Tax Department of India has categorized Tax filing according to the various types of citizens based upon their profession, income earned, and citizenship. There are 7 types of ITR Forms and the ITR-4 Form is one of them.

ITR 4 is commonly called Sugam Form. It is for the individual taxpayer who are supposed to file returns under the Presumptive Income Scheme which comes under Section 44D, Section 44DA, and Section 44AE of the Income Tax Act. Given the condition, the business is not more than Rs. 2 crores. 

Eligibility criteria to file ITR-4 Form

This Form is for individuals, Hindu Undivided Family & Partnership Firm (other than LLP) who are Indian residents. 

Some of the criteria are-

  1. One should have a single house (that is, Property)
  2. Total income earned should not exceed Rs. 50 Lakhs.
  3. Have business & professional income as per 44AD, 44AE, or AD.
  4. Having interest from income, family pension, etc
  5. Having agricultural income up to Rs. 5000.
  6. A freelancer whose Gross Receipt is not more than Rs. 50 Lakhs.

Who cannot file the ITR 4 Form for AY 2021-22

  1. Individuals whose income is more than Rs.50 Lakhs
  2. An individual who is a director in a company 
  3. Individual who has invested in the unlisted equity shares or has brought forward/ carry forward loss under house property income.

(A person who is a director in a company or has invested in the unlisted equity shares or has any brought forward/ carry forward loss under house property income cannot file the ITR 4 for AY 2021-22.)

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ITR 4 Form Filing mode

The form can be filled out online as well as offline.

Offline

Further, the form in offline format can be filled in two ways, that is, by getting the form in the physical format or by bar-code return.

This offline format is specially designed for super senior citizens whose age is 80 or more and for individuals whose income is less than Rs. 5 Lakhs (that is, they don’t claim a refund in the income tax return)

Online

In the online method also, there are two means. The first one is by using an electronic digital signature. The acknowledgment will be sent via registered e-mail. One can also download manually from the Government Income Tax Website.

The second method is by submitting all the documents electronically and subsequently submitting ITR-4 Form as a verification form by signing it.

  • (By transmitting the data electronically and then submitting the verification of the return in Return Form ITR-V- You are then required to sign it and send it to the Income Tax Department’s CPC office in Bangalore within 120 days of e-filing.)

Major changes Introduced in ITR-4 Form in the financial year 2021-22 

The ITR-4 Form as compared to the previous year has been updated with an option of choosing between the old & new tax regimes which are considered to be Part A of the form.

If one is opting for a new tax regime then one has to furnish Form 10IE along with the acknowledgment number.

  1. (Part B- Under income from other sources, a drop-down like interest from saving account, deposit, etc to be provided in the e-filing utility specifying the nature of income. In the case of dividend income, a quarterly breakup is to be provided for allowing applicable relief from the charge of interest for default in payment of advance tax under section 234C.

The Schedule DI is removed for the financial year 2021-22. Apart from this, there are no other major changes which ITR 4 Form has undergone.

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Overview of ITR-4 Form

ITR Form 4 has 4 parts along with the Schedule section. Part A is about General Information, Part B is about the declaration of Gross Total Income, Part C is about deductions & taxable total income and Part D is about Tax Computations and Tax Status.

The schedule which is listed is, Schedule BP, Schedule IT, Schedule TCS, Schedule TDS1, and Schedule TDS2.

The view of Part A of the Form is-

Part B Gross Total Income

Part C Deductions and taxable total income

Part D

Part BP Detail of Income From Business or Profession

Schedule TCS

Schedule TDS-1

Schedule TDS-2

Verification.

The aforementioned schedules are available in ITR-4 Form. One has to fill and file the tax return on time to avoid any delays and penalties that may arise.

File online income tax returns

ITR 4 Form Filing mode

The form can be filled out online as well as offline.

Offline

Further, the form in offline format can be filled in two ways, that is, by getting the form in the physical format or by bar-code return.

This offline format is specially designed for super senior citizens whose age is 80 or more and for individuals whose income is less than Rs. 5 Lakhs (that is, they don’t claim a refund in the income tax return)

Online

In the online method also, there are two means. The first one is by using an electronic digital signature. The acknowledgment will be sent via registered e-mail. One can also download manually from the Government Income Tax Website.

The second method is by submitting all the documents electronically and subsequently submitting ITR-4 Form as a verification form by signing it.

  • (By transmitting the data electronically and then submitting the verification of the return in Return Form ITR-V- You are then required to sign it and send it to the Income Tax Department’s CPC office in Bangalore within 120 days of e-filing.)

Major changes Introduced in ITR-4 Form in the financial year 2021-22 

The ITR-4 Form as compared to the previous year has been updated with an option of choosing between the old & new tax regimes which are considered to be Part A of the form.

If one is opting for a new tax regime then one has to furnish Form 10IE along with the acknowledgment number.

  1. (Part B- Under income from other sources, a drop-down like interest from saving account, deposit, etc to be provided in the e-filing utility specifying the nature of income. In the case of dividend income, a quarterly breakup is to be provided for allowing applicable relief from the charge of interest for default in payment of advance tax under section 234C.

The Schedule DI is removed for the financial year 2021-22. Apart from this, there are no other major changes which ITR 4 Form has undergone.

Overview of ITR-4 Form

ITR Form 4 has 4 parts along with the Schedule section. Part A is about General Information, Part B is about the declaration of Gross Total Income, Part C is about deductions & taxable total income and Part D is about Tax Computations and Tax Status.

The schedule which is listed is, Schedule BP, Schedule IT, Schedule TCS, Schedule TDS1, and Schedule TDS2.

The view of Part A of the Form is-

Part B Gross Total Income

Part C Deductions and taxable total income

Part D

Part BP Detail of Income From Business or Profession

Schedule TCS

Schedule TDS-1

Schedule TDS-2

Verification.

The aforementioned schedules are available in ITR-4 Form. One has to fill and file the tax return on time to avoid any delays and penalties that may arise.

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