ITR Form 4: What is ITR-4 SUGAM, how to file and all you need to know
India TodayThe Central Board of Direct Taxes has notified two Income Tax return forms for the assessment year of 2020-21. The Income Tax Return filing deadline for the financial year 2019-20 earlier would have ended on November 30, 2020. ITR Form 4: What is ITR-4 SUGAM Form ITR-4 is a simplified return form to be used by an assessee, at his/her option, if the assessee is eligible to declare profits and gains from business and profession on a presumptive basis under section 44AD, 44ADA, or 44AE. ITR-4 SUGAM: Who is eligible to file ITR 4-Sugam is for Individuals, HUFs, and Firms being a resident having total income up to Rs.50 lakh, one house property, having income from business and profession which is computed under sections 44AD, 44ADA or 44AE of the Income Tax Act, 1961, or Interest Income, Family pension, etc. ITR-4 SUGAM: How to file offline The ITR form can be filed offline by an Individual who is of 80 years or more and by the Individual whose’ income is less than Rs 5 lakhs and who do not have to claim a refund in the income tax return.