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ITR-4 Sugam Form Filing Services

For small business owners, freelancers, and professionals who opt for the presumptive taxation scheme, the ITR-4 Sugam Form is the designated income tax return form. VSB Consultants Pvt Ltd ensures seamless and hassle-free ITR-4 filing, enabling individuals to comply with tax regulations while benefiting from simplified tax calculation. Our expert tax consultants assist small businesses, freelancers, and professionals in maximizing deductions while ensuring accurate and timely tax filing.

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What is ITR-4 Sugam Form Filing ?

The ITR-4 Sugam Form is for individuals, Hindu Undivided Families (HUFs), and firms (excluding LLPs) who earn income from business or profession under the presumptive taxation scheme as per Sections 44AD, 44ADA, and 44AE of the Income Tax Act.

This form is designed for small businesses and professionals to simplify tax compliance. Instead of maintaining detailed books of accounts, they can declare a percentage of their total income as taxable under the presumptive taxation scheme.

Who Can File ITR-4?

✔ Individuals, HUFs, and firms with business income up to ₹2 crore under Section 44AD.
✔ Professionals with income up to ₹50 lakh under Section 44ADA.
✔ Transporters owning up to 10 vehicles under Section 44AE.
✔ Freelancers and self-employed professionals opting for presumptive taxation.

Who Cannot File ITR-4?

❌ Companies and LLPs – Must file ITR-5 or ITR-6.
 ❌ Taxpayers with business turnover exceeding ₹2 crore – Should file ITR-3.
 ❌ Individuals earning capital gains or foreign income – Must opt for ITR-2 or ITR-3.
 ❌ Professionals with income above ₹50 lakh – Must file ITR-3.
 ❌ Salaried individuals without business or professional income – Should opt for ITR-1 or ITR-2.

Documents Required for ITR-4 Filing

Before filing ITR-4, ensure you have the following documents:

📌 PAN Card – Taxpayer’s Permanent Account Number.
 📌 Aadhaar Card – Mandatory for verification.
 📌 Form 16 & 16A – Salary details and TDS deductions.
 📌 Bank Statements – Reflecting business transactions and receipts.
 📌 Profit & Loss Statement – For self-employed professionals.
 📌 GST Returns (if applicable) – For businesses under GST.
 📌 Investment Proofs – For claiming tax deductions.
 📌 Advance Tax Payment Receipts – If applicable.
 📌 Other Income Proofs – Rental income, dividends, interest, etc.

Step-by-Step Process for ITR-4 Filing

At VSB Consultants Pvt Ltd, we follow a structured ITR-4 filing process to ensure accuracy and compliance:

Step 1: Income Assessment & Tax Computation

✔ Identify the total income from business, profession, and other sources.
 ✔ Apply the presumptive taxation rate as per Section 44AD (8%), Section 44ADA (50%), or Section 44AE (fixed rates for transporters).

Step 2: Verification of Tax Deductions

✔ Include deductions under Sections 80C (PPF, LIC, ELSS), 80D (Health Insurance), 80E (Education Loan), 80G (Donations), etc.

Step 3: Filing the ITR-4 Form

✔ Accurately enter business turnover, professional earnings, and eligible deductions.
 ✔ Declare other income sources such as rental income, interest, or dividends.

Step 4: Tax Payment & Submission

✔ If tax liability exists, pay it through Challan 280 before filing.
 ✔ Submit the ITR-4 form via the Income Tax e-Filing portal.

Step 5: Verification & Acknowledgment

✔ Verify the ITR using Aadhaar OTP, net banking, or digital signature.
 ✔ Download the ITR-V acknowledgment slip for records.

With VSB Consultants Pvt Ltd, filing ITR-4 becomes easy, fast, and hassle-free.

Why Choose VSB Consultants ?

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Take the first step toward launching your business with confidence. Our experts will assist you in setting up your sole proprietorship hassle-free.

📞 Call us now on +91 9875991882 or fill out the inquiry form to get expert assistance from VSB Consultants Pvt Ltd!

Frequently Asked Questions (FAQs)

  • +1. What is the deadline for filing ITR-4 ?
    ✔ The due date is July 31st of the assessment year.
  • +2. Can salaried individuals file ITR-4 ?
    ✔ No, ITR-4 is for businesses and professionals opting for presumptive taxation.
  • +3. Can freelancers file ITR-4 ?
    ✔ Yes, freelancers earning up to ₹50 lakh annually can file ITR-4 under Section 44ADA.
  • +4. What if my business turnover exceeds ₹2 crore ?
    ✔ You must file ITR-3 instead of ITR-4.
  • +5. How is tax calculated under presumptive taxation ?
    ✔ Under Section 44AD, 8% of total turnover is considered taxable income (6% for digital transactions).
  • +6. Is GST registration mandatory for ITR-4 ?
    ✔ No, GST is separate from ITR-4, but if applicable, GST details should be provided.
  • +7. Can I file ITR-4 without an Aadhaar card ?
    ✔ No, Aadhaar is mandatory for ITR verification.
  • +8. Do I need to maintain books of accounts for ITR-4 ?
    ✔ No, under presumptive taxation, maintaining detailed books is not required.
  • +9. What deductions are available under ITR-4 ?
    ✔ Sections 80C, 80D, 80E, 80G, and other deductions can be claimed.
  • +10. Can I revise my ITR-4 after filing ?
    ✔ Yes, revised returns can be filed before the end of the assessment year.
  • +11. What happens if I file ITR-4 late ?
    ✔ Late filing attracts penalties of ₹1,000 to ₹5,000, depending on the delay.
  • +12. Can I declare lower income than the presumptive rate ?
    ✔ Yes, but you must maintain proper books of accounts and file ITR-3 instead.
  • +13. Is advance tax applicable under ITR-4 ?
    ✔ No, taxpayers under presumptive taxation are exempt from advance tax payments.
  • +14. How can I check my ITR-4 refund status ?
    ✔ Refund status can be checked on the Income Tax e-Filing portal.
  • +15. Can NRIs file ITR-4 ?
    ✔ No, ITR-4 is for resident taxpayers only.