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ITR-4 Return Filing


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ITR-4 Return Filing

Form ITR 4 is the appropriate income tax return form for taxpayers who have chosen the Presumptive Taxation Scheme under Sections 44D, 44DA, or 44AE of the Income Tax Act, 1961. It's important to note that this eligibility is subject to a business turnover limit. If the taxpayer's turnover exceeds Rs. 2 crore, they are required to file ITR 3 Form instead.

What is Presumptive Taxation in Scheme?

The Presumptive Taxation Scheme is designed to relieve small taxpayers from the obligation of maintaining detailed books of accounts.

Who is Eligible to file Form ITR 4?

Individuals whose income comes from the following sources have to file ITR 4 Form:

Who is not eligible for ITR 4 Form?

The following individuals need to file ITR-4:

Components of ITR 4 Form

The structure of Form ITR-4 is as follows:

Who Cannot File the ITR-5 Form?

The ITR-5 Form is not meant for the following categories of taxpayers:

Presumptive Taxation Scheme

What are the features of the Presumptive Taxation Scheme?

Presumptive Taxation Scheme

 Small businessmenProfessionalsTransporters
Applicable Income Tax SectionSection 44ADSection44ADASection44AE
Eligible businessThe taxpayer may be in any wholesaling, retailing, trading, civil construction, or any other business
  1. Legal services
  2. Technical consultancy
  3. interior decoration
  4. Engineering and architectural
  5. Medical
Entities of business involved in hiring, plying, or leasing of goods carriages
Maximum turnover limitUp to Rs 2 crore in a yearAnnual receipts of not more than Rs.50 lakh.Owning not more than 10 goods vehicles during the year.
Computation8% of total receipts and electronic receipts shall be charged at 6% of gross turnover during the year.50% of gross receipts. A higher income of more than 50% can be declared? 7,500 per vehicle per month or part thereof based on the duration for which the vehicle was owned by the person during the year
Deductions allowedNo further deductions and exemptions are allowedNo further deductions and exemptions are allowedNo further deductions and exemptions are allowed (A partnership can claim deduction and interest to the paRtners from the computed income at RS. 7500 vehicle per month)

How to file ITR 4 Form?

ITR-4 can be submitted both online and offline as well.


  1. Individuals at the age of 80 years or more
  2. The individual’s income is less than Rs.5 Lakh and he does not have to claim a refund in the income tax return

ITR 4 can be filed offline :


  1. By furnishing the return digitally using the digital signature.
  2. By transmitting the data electronically and then submitting the verification of the return made in Form ITR-V.       

If the ITR-4 Form is under digital signature then an acknowledgment will be sent to the registered email id.

Major Amendments made to the ITR 4 Form in AY 2021 - 2022

The ITR 4 Form for the AY 2021-2022 comes with notable changes:

  1. Declaration for opting between the old and new tax regimes under section 115 BAC has been added. Taxpayers need to choose ‘Yes or No’ in Part A general information. If opting for the new tax regime, the Form 101E furnishing date and acknowledgment number must be provided.

  2. Part B includes a drop-down menu for specifying the nature of income under ‘Income from other sources,’ including interest from savings account, deposits, etc. For dividend income, a quarterly breakup is required for claiming relief from interest charges for default in advance tax payment under section 234C.

  3. Schedule DI, introduced in AY 2020-2021, has been removed.

These changes aim to streamline the filing process and provide clarity in choosing tax regimes.

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