This page contains information about using and filling the ITR-4 Form which is designed for the HUFs who generate income from a proprietary business or profession. This page contains filling instructions, the explanation for each section of the form and the related terminologies.
ITR-4 is applicable to the individual and HUFs who earn income from a proprietary business or profession. If the presumptive method of taxation will applicable on your business then use ITR-4S. ITR-4S is applicable when the total turnover amount is less than INR 1CR. But if your presumptive annual turnover is over INR 1CR then you need to use ITR-4 to file income tax return. The due date for filing this form is 31st July but audits are applicable then the due date will be 30th September.
The ITR-4 Form can be used to prepare income tax return by the individual and HUFs who meets the following conditions:
The form is divided into 2 parts, verification, and 35 schedules
The parts are:
The 35 schedules are:
Filling instructions for ITR-4:
Filling Sequence for parts and schedules
The best sequence to follow while filing ITR-4 is:
ITR-4 can be submitted via the online or offline method. However, there are certain conditions under which certain taxpayers are required to submit it online on a compulsory basis.
Those category of taxpayers are:
Online / Electronically:
Two copies of the ITR-V should be printed and one need to be signed accordingly and sent to the CPC office in Bangalore. You must keep the other one for records.
In the case of physical filing, an acknowledgment will be issued to you in paper form at the time of submitting ITR-4.