ITR-4 Filing (Presumptive Scheme)

ITR-4 (Sugam) is the prescribed Income Tax Return for Resident Individuals, Hindu Undivided Families (HUFs), and Partnership Firms (other than LLPs) opting for the Presumptive Taxation Scheme under Sections 44AD, 44ADA, and 44AE of the Income-tax Act, 1961.

Under the presumptive taxation scheme, eligible taxpayers are not required to maintain detailed books of accounts as prescribed under Section 44AA or get their accounts audited under Section 44AB, subject to fulfilment of the prescribed conditions. Our expert assist in determining eligibility, computing presumptive income, claiming eligible deductions, reconciling Form 26AS, AIS and TIS, verifying tax payments and filing the return accurately in accordance with the Income-tax Act, 1961, the Income-tax Rules, 1962 and applicable CBDT notifications.

• Resident Individuals carrying on eligible businesses under Section 44AD.
• Resident Professionals eligible under Section 44ADA (such as doctors, lawyers, architects, engineers, accountants, consultants, interior decorators, and other notified professionals).
• Eligible businesses engaged in plying, hiring, or leasing goods carriages under Section 44AE.
• Resident HUFs opting for presumptive taxation.
• Partnership Firms (other than LLPs) eligible to opt for the presumptive taxation scheme.
• Small businesses and professionals seeking simplified tax compliance.