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ITR-4

Original price was: ₹2,500.00.Current price is: ₹1,500.00.

ITR-4 (Sugam) Filing for FY 2024–25 with AutoBizNow 🧾

ITR-4 (Sugam) is a simplified Income Tax Return (ITR) form for taxpayers under the Presumptive Taxation Scheme, designed to ease compliance for small businesses and professionals. At AutoBizNow, powered by Professional Consultant Solution Planet Private Limited, we ensure a hassle-free and accurate filing experience. 💼

💡 Who Can File ITR-4 (Sugam)?

You are eligible to file ITR-4 if: ✅ You are a Resident Individual, Hindu Undivided Family (HUF), or Firm (excluding LLP). ✅ Your income falls under the Presumptive Taxation Scheme as per sections 44AD, 44ADA, or 44AE. ✅ Your total income does not exceed ₹50 lakh during the financial year. ✅ Your income sources include:

Business Income: Turnover/Gross Receipts up to ₹2 crore computed under Section 44AD or Section 44AE.
Professional Income: Gross Receipts up to ₹50 lakh computed under Section 44ADA.
Salary/Pension: Income from salary or pension.
One House Property: Income from a single house property.
Other Sources: Income from interest, dividends, or other non-lottery income.
Agricultural Income: Agricultural income up to ₹5,000.

❌ Who Cannot File ITR-4 (Sugam)?

You cannot file ITR-4 if: 🚫 Your total income exceeds ₹50 lakh. 🚫 You have income from more than one house property. 🚫 You are a Director in a Company. 🚫 You own unlisted equity shares. 🚫 You have income from capital gains or foreign assets/income. 🚫 You have brought forward losses or intend to carry forward losses. 🚫 You are a Non-Resident Indian (NRI) or a Resident but Not Ordinarily Resident (RNOR). 🚫 You have deferred income tax on ESOPs from eligible start-ups.

📜 Key Features of ITR-4 (Sugam)

Presumptive Taxation: Simplifies compliance by allowing income to be computed at a fixed percentage of turnover or receipts.
Minimal Documentation: No requirement to maintain detailed books of accounts under Sections 44AD, 44ADA, or 44AE.
Single Form for Multiple Sources: Covers business income, professional income, salary, house property, and other sources.
Default Tax Regime: For FY 2024–25, the New Tax Regime is default. Taxpayers can opt for the Old Tax Regime if desired.

🚀 Filing ITR-4: Step-by-Step Guide

1️⃣ Log In: Visit the Income Tax e-Filing Portal and log in with your credentials. 2️⃣ Select ITR-4: Choose the form for the Assessment Year 2024–25. 3️⃣ Verify Pre-Filled Data: Review pre-filled details like income, TDS, and personal information. 4️⃣ Enter Additional Details: Add any unreported income, deductions, or exemptions. 5️⃣ Compute Tax Liability: Use the portal to calculate your tax payable or refund. 6️⃣ Pay Taxes: Use the e-Pay Tax feature to clear any outstanding dues. 7️⃣ Submit and e-Verify: File the return and complete the e-Verification using Aadhaar OTP, net banking, or EVC.

📅 Key Deadlines for FY 2024–25

ITR Filing: July 31, 2025.
Belated or Revised Returns: December 31, 2025.

FAQs About ITR-4 (Sugam)

1. Can NRIs file ITR-4? No, ITR-4 is only applicable to Resident Individuals, HUFs, and firms.

2. Is it mandatory to maintain books of accounts under presumptive taxation? No, taxpayers under the presumptive scheme are not required to maintain detailed accounts but must maintain basic records of turnover and receipts.

3. Can I file ITR-4 if I have multiple house properties? No, ITR-4 is only applicable if you have income from a single house property.

4. Can I switch between the New and Old Tax Regimes? Yes, you can opt out of the New Tax Regime by filing Form 10-IEA before filing the return.

5. What is the presumptive tax rate for professionals under Section 44ADA? Professionals can declare 50% of their gross receipts as income under Section 44ADA.

Why Choose AutoBizNow for ITR-4 Filing?

🌟 Expert Assistance: Receive step-by-step guidance tailored to your financial profile. 🌟 Accurate Filing: Our team ensures error-free and timely submissions. 🌟 Compliance First: Stay compliant with the latest tax laws and deadlines. 🌟 Personalized Solutions: Customized advice for business and professional taxpayers.