ITR-4 Presumptive Filing Made Simple The Tax Company helps small businesses file presumptive taxation returns under ITR-4.

ITR-4 Presumptive Return FilingITR-4, also known as Sugam, is an Income Tax Return form used by individuals, Hindu Undivided Families (HUFs), and partnership firms (excluding LLPs) who opt for the presumptive taxation scheme under Sections 44AD, 44ADA, or 44AE of the Income Tax Act.Under the presumptive taxation scheme, taxpayers can declare income at a prescribed percentage of their turnover or receipts without maintaining detailed books of accounts. This simplifies the tax filing process and reduces compliance requirements for small businesses and professionals.ITR-4 can be filed by taxpayers who have: Business income under Section 44AD (small businesses with turnover up to ₹2 crore) Professional income under Section 44ADA (professionals with receipts up to ₹50 lakh) Income from one house property Income from salary or pension Income from other sources such as interest Total income up to ₹50 lakh This form is commonly used by small business owners, freelancers, consultants, and professionals who choose the presumptive taxation scheme to simplify their tax reporting.The return can be filed online through the Income Tax Department’s e-filing portal. Taxpayers need to log in to the portal, select the relevant assessment year, enter their income details under the presumptive scheme, claim eligible deductions, and submit the return electronically.After successfully filing the return, an ITR-V acknowledgement is generated.The filed return must then be verified electronically using methods such as Aadhaar OTP, net banking, or bank account verification. If electronic verification is not completed, the taxpayer must send the signed ITR-V to the Centralized Processing Centre (CPC) of the Income Tax Department.The return must be verified within 30 days of e-filing.The due date for filing ITR-4 is usually July 31 of the assessment year, unless extended by the Income Tax Department.Documents Required PAN Card Aadhaar Card Bank Statements Business or Professional Income Details AIS / TIS (Annual Information Statement / Taxpayer Information Summary) Investment Proofs for deductions (80C, 80D, etc.) Details of business turnover or professional receipts