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ITR 4 Form Filing

Form ITR 4 is filed by the taxpayers who have opted for the Presumptive Taxation Scheme under Section 44D, 44DA, 44AE of the Income Tax Act,1961. But this is subject to the business turnover limit i.e in case if the turnover is exceeding Rs.2 crore then the taxpayer is required to file ITR 3 Form.


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Presumptive Taxation Scheme is a scheme that exempts small taxpayers from maintaining the books of accounts.

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

The following individuals need to file ITR-4:


The structure of Form ITR-4 is as follows


What are the features of the Presumptive Taxation Scheme?

  • Under presumptive taxation scheme, there is no requirement to maintain the books of accounts
  • The net income is estimated to be 8% of gross cash receipts. However, for payments received via digital mode, the net income is assumed to be 6% of such gross receipts.
  • Deduction of any business expense against this income is not allowed.
  • The business owner has to pay 100% Advance Tax by the 15th of March. There is no need to comply with quarterly installments of due dates of Advance tax (i.e. in June, Sep, Dec)

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Pay as you go to get better pricing.

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Income tax return filing for a taxpayer with taxable income of less than Rs.10 lakhs.

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Income tax return filing for a taxpayer with taxable income of less than Rs.25 lakhs.

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Income tax return filing for a taxpayer with taxable income of more than Rs.25 lakhs.

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Small businessmen Professionals Transporters
Applicable Income Tax Section Section 44AD Section44ADA Section44AE
Eligible business The taxpayer may be in any wholesaling, retailing, trading, civil construction, or any other business
  • Legal services
  • Technical consultancy
  • interior decoration
  • Engineering and architectural
  • Medical
Entities of business involved in hiring, plying, or leasing of goods carriages
Maximum turnover limit Up to Rs 2 crore in a year Annual receipts of not more than Rs.50 lakh. Owning not more than 10 goods vehicles during the year.
Computation 8% 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 allowed No further deductions and exemptions are allowed No further deductions and exemptions are allowed No 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)


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


The following individuals can file offline form:

ITR 4 can be filed offline :


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

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The Changes that are incorporated in the ITR 3 Form are:

  1. There are no major changes made in the ITR 4 Form in comparison to the changes that were made last year.
  2. ITR 4 Form for the AY 2021-2022 has been updated with a declaration to choose between the old and the new tax regimes. This declaration is under Part A general information as ” Are you opting for new tax regime under section 115 BAC where the tax taxpayer has to choose between ‘Yes or No’. If in case it is Yes, the furnishing date of the Form 101E along with the acknowledgment number has to be filed.
  3. Part B – Under the Income from other sources a drop down like the interest from the saving account, deposit, etc is to be provided in the efiling utility along with specifying the nature of the income. In the case of the dividend income, the quarterly breakup has to be provided for allowing the applicable relief from the charge of the interest for default in the payment of advance tax under section 234C.
  4. Schedule DI that was inserted for AY 2020 – 2021 has been removed.

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Frequently Asked Questions” font_container=”tag:h2|text_align:center” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row row_space=”remove_padding_top”][vc_column][vc_tta_accordion][vc_tta_section title=”Q.1 Is a balance sheet mandatory in ITR 4 filing?” tab_id=”1631962818888-f2d58f48-62d7″][vc_column_text]In the case of ITR 4, it is not necessary to disclose the particulars of the balance sheet.

[/vc_column_text][/vc_tta_section][vc_tta_section title=”Q.2 What is cash in hand for ITR 4?” tab_id=”1631962818890-d3706755-c985″][vc_column_text]It is not necessary to disclose the personal assets in ITR4. Only the assets that are held to conduct the business are to be shown in ITR 4. You can show Nil (Zero) value concerning sundry creditors, inventors, and Cash in Hand. There will be no error on the validation and the returns can be filed.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Q.3 Is it possible to convert ITR1 to ITR 4?” tab_id=”1631963238585-591cb886-5728″][vc_column_text]Yes, Form ITR 1 can be converted to ITR 4.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Q.4 What is inventory in ITR 4?” tab_id=”1634375208465-1b41807f-303f”][vc_column_text]Inventories are the assets that include the finished goods, work in progress, and the raw materials that are held by a company for sales in the future. It also includes the goods are purchased that are held for resale and maintenance supplies, and the consumables used for the production process.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Q.5 Is it possible to shift from ITR 3 to ITR 4?” tab_id=”1634375207194-feeb45e1-ec4e”][vc_column_text]Switching from ITR 3 to ITR 4 cannot be done unless the sales are declared.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Q.5 Can Doctors file ITR 4?” tab_id=”1634380574907-529ce678-6f81″][vc_column_text]Yes, doctors can file ITR 4 after opting for the presumptive scheme and still declare the profits higher than 50% of receipts. But if the receipts are under Rs.50 lakhs and the expenses are lower than 50% of the receipts then a significant amount is saved by opting for the scheme.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][/vc_row][vc_row custom_background=”bg-theme”][vc_column][gva_call_to_action title=”Need any further assistance with business compliances and filings?” button_align=”button-center” style_button=”btn-white” text_link=”Contact us” link=”/contact-us/”][/gva_call_to_action][/vc_column][/vc_row]