ITR-4 Return Filling Service

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ITR-4 (SUGAM) Return Filling

Brief overview of ITR-4 Return

This Return is applicable for Individual and Hindu Undivided Family (HUF), who is resident or a firm having total income upto Rs 50 Lakhs. Income under this ITR Form is Calculated as per Presumptive taxation system (i.e. U/s 44AD,44 ADA,44 AE). Which simply means that there is no need to maintain books of Accounts. Income is calculated as a %age of your annual sales/turnonver This ITR form is also applicable if, besides the above nature of income, an assessee has income from any of the following sources:-
- Salary/Pension Income
- One House Property Income
- Other Sources Income (Interest, Family Pension, Dividend, Fantasy Sports etc)
- Agricultural Income (Upto Rs 5,000)

Our Pricing

  • Basic

  • Market Price : 2,500.00

    Our Price : 1,999.00

    Your Saving : 501

  • Basic Package of ITR -4 Return
  • Completed By : 25/12/2024

  • For Taxpayers Opting for Presumptive Income Scheme

    What you Get:-

    Original ITR Copy

    Computation of Income

    Form 26AS Copy

    Intimation U/s 143 (1)

     

  • Standard

  • Market Price : 3,500.00

    Our Price : 2,999.00

    Your Saving : 501

  • Standard Package of ITR -4 Return
  • Completed By : 25/12/2024

  • For Taxpayers Opting for Presumptive Income Scheme

    What you Get:-

    Original ITR Copy

    Computation of Income

    Form 26AS Copy

    Intimation U/s 143 (1)

  • Premium

  • Market Price : 5,000.00

    Our Price : 3,999.00

    Your Saving : 1001

  • Premium Package of ITR -4 Return
  • Completed By : 26/12/2024

  • Premium Package of ITR -4 Return

    For Taxpayers Opting for Presumptive Income Scheme

    What you Get:-

    Original ITR Copy

    Computation of Income

    Form 26AS Copy

    Intimation U/s 143 (1)

    Income Tax Consultancy Support for One Year

Documents Required for ITR-4 Return Filling

Aadhar Card
PAN Card Copy
Bank Statement (Current & Savings A/c Both)
Bank Statement (Current & Savings A/c Both)
Tax Saving Investment Proofs

FAQ on ITR-4 Return Filling

Q.1 Do i need to share all the sale/purchase and other documents for filing of ITR?

A.1 No, Since there is no need to maintain books of accounts under presumptive taxation scheme, So we would need very limited information to file your ITR.

Q.2 How will profits be calculated under section 44AD of Presumptive Taxation Scheme?

A.2 Profits are calculated at the rate of 6% of your Annual Turnover (8% in case of cash Receipts).

Q.3 Is it mandatory to opt for Presumptive Taxation Scheme?

A.3 No, This scheme is optional. However, if you file your ITR for one year using this scheme and you file ITR for next year as per normal taxation system then you wont be able to use presumptive taxation scheme for the next five years.

Q.4 Can i claim deduction of Expenses if i file ITR under Presumption Taxation Scheme?

A.4 No, you can neither claim any expenses nor any deductions from your revenue since the profits are calculated at a pre fixed percentage of your Sales/Turnover.

Q.5 When can i Opt for Presumptive Taxation Scheme?

A.5 For Business Taxpayers the limit is Rs 2 Crore Turnover, and for Professionals, the limit is Rs 50 Lakhs.

Q.6 Who Cannot Opt for Presumption Taxation Scheme U/s 44AD?

A.6 Except for the persons involved in the business of Life Insurance Agency, Commission Agents & those in the business of operating, hiring, or leasing goods transport (There is separate section 44AE for calculation of profits of goods transport businesses) , all businesses can opt for presumptive taxation scheme provided the eligibility criteria of turnover is met. 

Q.7 Who can Opt for Presumption Taxation Scheme Under Section 44ADA?

A.7 A Resident person who is engaged in any one or more of the following professions can opt this scheme:-

1) Legal

2) Medical

3) Engineering or architectural

4) Accountancy

5) Technical consultancy

6) Interior decoration

7) Any other profession as notified by CBDT

Q.8 How will the Income be computed Under Section 44ADA?

A.8 Income Under Section 44ADA will be computed @ 50% of the total gross receipts of the profession.

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