Expert Assistance for ITR-4 Form Filing
At Global Taxman, we make the ITR-4 form filing process straightforward, efficient, and hassle-free. Whether you're a small business owner, freelancer, or professional under the presumptive taxation scheme, our team of tax experts ensures accurate and timely filing for your peace of mind.
What is ITR-4 Form?
The ITR-4 Form is specifically designed for individuals, Hindu Undivided Families (HUFs), and firms (other than LLPs) opting for the presumptive taxation scheme under sections 44AD, 44ADA, or 44AE of the Income Tax Act.
Who Should File ITR-4 Form?
The ITR-4 Form is applicable to taxpayers meeting the following criteria:
- Income from a business under the presumptive taxation scheme as per Section 44AD or 44AE.
- Income from a profession under Section 44ADA.
- Income from salary or pension up to ₹50 lakh.
- Income from one house property (excluding cases where a loss is carried forward).
- Income from other sources (excluding winnings from lottery or racehorses).
Who is Not Eligible to File the ITR-4 Form?
The following taxpayers are not eligible to file ITR-4:
- Individuals earning income from more than one house property.
- Taxpayers with income exceeding ₹50 lakh.
- Income from capital gains.
- Income from foreign sources or foreign assets.
- Individuals or entities claiming tax deductions under Section 10AA or relief under Sections 90/91.
Due Date for Filing Form ITR-4
The due date for filing the ITR-4 Form for non-audit cases is July 31 of the assessment year. For taxpayers requiring an audit, the due date is October 31. Stay updated for any changes announced by the Income Tax Department.
Late Filing Penalties for ITR-4 Form
- Filing after the due date but before December 31: Late filing fee of ₹5,000.
- Filing after December 31: Late filing fee of ₹10,000.
- If total income is below ₹5 lakh, the maximum penalty is ₹1,000.
Timely filing can help you avoid these penalties and ensure compliance.
Documents Required for ITR-4 Form
To file your ITR-4 on Global Taxman, you’ll need the following documents:
- PAN and Aadhaar Card
- Bank account details
- Details of business income
- Form 16 or salary details
- Proof of investments and deductions
- Any other supporting documents for presumptive taxation income
Key Sections of the ITR-4 Form
- General Information: Basic personal and contact details.
- Income Details: Report income from presumptive business, profession, salary, and house property.
- Tax Computation: Calculate tax liability after deductions.
- Verification: Self-declaration and digital signature.
Why Choose Global Taxman for ITR-4 Form Filing?
Global Taxman ensures accurate filing, timely submissions, and expert guidance tailored to your financial needs. Our secure and efficient platform simplifies tax compliance while maximizing savings.
How Global Taxman Simplifies Your ITR-4 Filing
Our expert team handles your ITR-4 filing from start to finish, offering guidance, ensuring accuracy, managing documentation, and optimizing deductions for a stress-free experience.
