Update on ITR-4 Sugam for A.Y. 2017-18: The assessee who were filling ITR-4 Sugam for A.Y. 2016-17, now they will file ITR-3 form. Know more about ITR-3 form here.
The ITR-4 form has removed by Income Tax Department for A.Y.2017-18. Now there is only one form i.e. ITR 4 SUGAM. It is only for the persons who are going to fill presumptive income u/s 44AD, 44ADA and 44AEE.
But if the income is above Rs. 2 crores, they you must file ITR-3 form.
Changes in ITR-4 Sugam for A.Y.2017-18
- The aadhar number is mandatory to mention in ITR-4. You can also enter enrollment ID if you have just applied for Aadhar Card.
- A new field has added in ITR-4 Sugam to enter cash deposited above Rs.2 lakh during the demonetization period.
- A new column for declaration of value of assets and liabilities by individuals/HUF earning above Rs.50 lakhs has also added.
Who Can File ITR-4 Sugam Form for A.Y.2017-18
Individual/HUF/Partnership Firm having income of the following will use ITR-4 Form.
- Business income (Turnover less than Rs. 2 crore) if calculated in accordance with the provisions of sections 44AD and 44AE. (8% profit on gross receipts/6% in case of digital receipts).
- Professional income if calculated in accordance with the provision of sections 44ADA/44AD (if Gross receipts less than Rs. 50 lakhs) (50% of gross receipts as his income). i.e. doctors, lawyers, engineers, chartered accountants, interior designers, accountants, freelancers etc.
Who Can Not File ITR-4 Sugam Form for A.Y.2017-18
If you have following income you are not eligible to file ITR-4 (Sugam) form.
- Income from more than one house property
- Income from winning form lottery or income from race hourses
- Income under capital gains
- Agricultural income in excess of Rs.5000
- Income from speculative business and other special incomes
- Income from an agency business or income from commission or brokerage
- Any resident having income from any source outside India
The following image will help you to understand who can file ITR-4 Sugam form.
ITR-4 (Sugam) is Optional
ITR-4 (Sugam) is optional to file for assessee. They can use also ITR-3 instead of ITR-4 Sugam. The main purpose to introduce ITR-4 Sugam is to simplify the process to file income tax return for business assessee. ITR 4 Sugam is Annexure less return form.
How to e-File ITR-4?
Entering Information in ITR-4 Form Excel Utility
|Step 1||Download ITR-4 Excel Utility|
|Step 2||Fill Income detail worksheet|
|Step 3||Fill TDS detail worksheet|
|Step 4||Fill all TCS detail worksheet|
|Step 5||Fill taxes paid and verification worksheet|
|Step 6||Fill 80G donation detail worksheet|
|Step 7||After filling all detail click on validate|
|Step 8||After validation click on Generate XML|
|Step 9||After XML generation, you are ready to file ITR-4|
E-filing Procedure ITR-4 form
|Step 1||Visit here -> http://incometaxindiaefiling.gov.in/eFiling/|
|Step 2||If you already registered then login|
|Step 3||If you are not registered then click on register yourself|
|Step 4||After login click on e-file|
|Step 5||Then select assessment year and select ITR-4 here|
|Step 6||Browse your xml file as generated above|
|Step 7||Select digitally sign as Yes (if you have digital signature), if Not then select No|
|Step 8||Click on Submit button|
|Step 9||System will generate ITR-V, Print it|
|Step 10||Send ITR-V to the address given in ITR-V|
|Step 11||E-verify your return – Check here how to e-verify Income Tax Return|
Download ITR-4 (Sugam Form)
|ITR 4 (Sugam) Excel Utility||Download|
|ITR 4 (Sugam) Java Utility||Download|
|ITR 4 (Sugam) PDF Format||Download|
Useful Guides to File ITR-4 Form
|Income Tax Slabs|
|Obligation to File Return|
|Computation of Total Income|
|Capital Gains Tax Rates|
|Cost of Inflation Index|
|How to Verify Income Tax Return|
|How to Send ITR-V to CVC|
|Which ITR Form Applicable to Me|
|How to File Income Tax Return Step by Step|