Who Should File ITR-4?
ITR-4 is for taxpayers opting for the Presumptive Taxation Scheme, reducing compliance burden by declaring income at prescribed rates.
*Only professional fees. Government charges and out-of-pocket expenses will be separate.
₹1,999.00
ITR-4 is for taxpayers opting for the Presumptive Taxation Scheme, reducing compliance burden by declaring income at prescribed rates.
Eligible Taxpayers
Presumptive Sections Covered
The ITR-4 is designed specifically for simplicity and ease of compliance, offering a major time saving benefit. Instead of maintaining intricate accounting books, ledgers, and balance sheets which is mandatory for ITR-3 the ITR-4 uses a presumptive taxation scheme where you simply declare a fixed percentage of your total turnover (6%, 8%, or 50%, depending on the business type) as your net profit. This dramatically reduces paperwork, minimizes the need for an accountant, and eliminates the risk of audit for minor bookkeeping errors, streamlining the entire process on the official Income Tax e-Filing Portal.
Restrictions
The procedure for filing ITR-4 (Sugam) is a simple, online process:
ITR-4 (Sugam) Filing Starting at ₹1,999: ITR-4 is a simplified return for small businesses, freelancers, and professionals opting for the Presumptive Taxation Scheme. It allows income reporting at a fixed percentage of turnover, making tax filing quick and hassle free. LegalWalaKart ensures accurate filing and smooth submission on the Income Tax e-Filing Portal for eligible taxpayers with income up to ₹50 lakh.
The filing schedule for ITR-4 (Sugam) operates on a fixed statutory timeline, with 31st July as the standard due date for submission in the relevant assessment year. Taxpayers who miss this deadline can file a belated return up to 31st December, though late fees may apply. Once the return is filed and e-verified on the official Income Tax e-Filing Portal, it is generally processed within 7 to 30 days, after which eligible refunds are credited.
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