ITR-4S (Sugam) was for those taxpayers who had opted for the presumptive taxation scheme under Section 44AD, 44ADA or Section 44AE. It was introduced in FY 2010-11 (AY 2011-12). ITR-4S has been discontinued from FY 2016-17 (AY 2017-18). From FY 2016-17 onwards, you need to file ITR-4 instead of ITR-4S. You can download the ITR-4S form in PDF form here.
Who can file ITR-4S?
This return can be used untill FY 2015-16 by an individual/HUF whose total income includes:
- Income from Presumptive Business or,
- Income from Profession or Freelancing or,
- Salary/Pension Income or,
- Income from one House Property (excluding cases where losses are brought forward from previous year) or,
- Income from Other Sources (Excluding Winning from Lottery and Race Horses).
Who can not file ITR-4S?
This Return Form cannot be used in case of following incomes:
- Income from more than one House Property or,
- Winning from Lottery and Race Horses or,
- Income from Capital Gains or,
- Agricultural income exceeding Rs.5000 or,
- Income from speculative business or,
- Income from Foreign Sources and/or having any Foreign Asset.
Structure of ITR-4S
|PART A- GENERAL||Personal Information||Name, Address, Date of Birth, PAN, contact details etc.|
|Filing Status||Employer Category, Residential status, Return filed under section etc.|
|PART B||Income And Deduction||Income from Business, Salary, House Property, Other Sources.|
|PART C||Deduction under Chapter VI-A||Deductions under section 80C, 80D, 80E, 80G, 80TTA etc.|
|PART D||Tax computation||Break up of Tax, Interest, Cess, Rebate etc.|
|Schedule 44AE||Calculations of Profits and Gains of Business of plying, hiring or leasing goods carriage||Period of Holding, Income per Vehicle, Deemed Income|
|Schedule NOB BP||Nature of Business. If more than one business, indicate the three main activities/ products.||Nature of Business, Computation of Presumptive Income under 44AD and 44AE. Financial Particulars of Business.|
|Tax Details||TDS1: Details of Tax Deducted at Source from SALARY||TAN of Employer, Employer Name, Tax Deducted etc.|
|Tax Details||TDS2: Details of Tax Deducted at sources from Income other than Salary||TAN, Name of Deductor, Year of Deduction, Tax deducted etc.|
|Tax Details||TCS: Details of Tax Collected at sources||Tax collection Account Number, Name of Collector, Tax Collected, Amount Claimed.|
|Tax Details||IT: Details of Advance Tax and Self Assessment Tax Payments||BSR Code, Date of Deposit, Chalan Number, Tax Paid.|
|Taxes paid and verification||Taxes Paid||Advance Tax, Self Assessment Tax, TDS.|
|Details of all Bank Accounts held in India at any time during the previous year||IFSC, Name of Bank, Account Number, Bank Account Type.|
|80G||Details of donations||Name of Donee, Address, City or District, State Code, PAN of Donee, Amount etc.|
What are the documents required?
Following are the documents required to file ITR-4S:
- PAN (Permanent Account Number)
- Bank account details
- TDS certificates
- Counterfoils of taxes paid
- Details of original return if filing revised return
- Details of notice if filing in response to a notice
Documents on the basis of your type of Income:
- Salary Income
- Form-16/ Salary slips received from an employer
- Pension statement/passbook.
- House/Property Income
- Address of the property,
- Coowner details in case the property is coowned,
- In case of house/property loan Interest certificates/repayment certificate from a bank,
- In case of let out property – Rent agreement
- Business / Profession
- Profit & Loss statement
- Balance Sheet
- Supporting documents for expenses incurred
- Bank account statement/Passbook
- Cash register
- Any other documents required to maintain the books of accounts of a business & profession
- If you’re eligible for any Chapter VI-A Tax Breaks, you may need to acquire the relevant documents from the list:
- PPF account statement/Passbook
- Fixed deposit certificates/statements
- Mutual fund NAV statements
- ELSS/ULIP/NSC investment details
- Life insurance premium receipts
- Medical insurance premium receipts
- House/property loan interest certificate/repayment statement
- Education loan interest certificate/repayment statement
- Tuition fees receipts
- Donation receipts
How to file the ITR-4S?
You can either file your ITR-4S physically or electronically. Since Financial year 2013-14, electronic filing of ITR-4S has been made compulsory for the taxpayers who…
- Have income of more than Rs. 5 Lakhs.
- Have any assets outside of India, including financial interest in any entity; or signing authority in any account outside of India.
- Those claiming relief under Section 90/90A/91 to whom Schedule FSI and Schedule TR apply.
In case of Physical submission:
- You can submit the ITR-4S in paper form or
- You can submit the barcoded return form duly filled.
The department will provide you with an acknowledgement along with stamp of submission on your copy.
In case of Online / Electronic submission:
- You can prepare and submit the ITR-4S online from Income Tax E-filing Website by digitally signing the same or,
- You can prepare and submit the ITR-4S online and e-verify it subsequently or send the signed verification of filed return in ITR-V to Central Processing Center Bangalore within 120 days of filing.
- Prepare return using Income Tax Return Preparation Utility offline and submit ITR-4S online and verify it.