Helping the Individuals with the Option of ITR-4 Return Filing
The Indian Government has different income tax returns category for its citizens. ITR-4 is among them. ITR-4 is filed by persons whose net income is less than Rs. 50 lakhs subject to other conditions. The ITR-4 Sugam is an income tax return form. The ITR-4 is filed by individual or Hindu Undivided Families who are resident other than not ordinarily resident or may be a form which is not a Limited Liability Partnership but is a resident and has an income not more than Rs. 50 lakhs annually. Also such individual’s revenue fall under a few heads that can help in the long run. Income from a business where it is calculated on a presumptive basis under Section 44AD with a gross turnover of up to Rs. 2 Crores is eligible for the return filing. Under Section 44AE, which is in regard of income from up to ten goods carriages?
A person having income from salary or pension, and income from one house property needs to file the ITR-4 FORM. Interest income from family pension also has to file the ITR-4. We at Accounting4you need to know who is not eligible to file the ITR-4 form. The ITR-4 returns do not have to be filed by an individual who has a signing authority in any account outside India. An Individual who has unlisted equity shares. If he has income from any other source which is outside India. If you are a director of a company, and have any financial asset situation out of India, in that case you are not eligible to file the ITR-4 form.
There are two ways to file the ITR-4 form. Here we at Accounting4you can assist you to do so. One method is through online method and the other one is through the offline method. Let us study the offline method firstly. An individual can only file the ITR-4 form offline under certain cases. If you are a super senior citizen of 80 years or more, you can file the ITR-4 form offline. If your earnings are not more than Rs.5 lakhs, you do not need to claim a refund in ITR.
You can file the ITR-4 form by providing the ITR-4 form in physical paper. Providing the bar coded return is also a process to file the ITR-4 from manually. We can do this for you, if you rely on us and physically we can get the acknowledgment copy received from the Income Tax Department on submission of the physical paper of the ITR-4 form. Now comes the online method. Your genie is here with you to relieve you from these headaches. To file the ITR-4 form online we at the destination of Accounting4you will make you visit the e-filing web portal, www.incometaxindiaefiling.gov.in. In the case of ITR-4, it is not necessary to disclose the details of the balance sheet. It is not necessary to disclose the assets in ITR-4. Only the assets which are there to conduct the business are showing in ITR-4. Verification of the filings is a huge task and need accuracy and concentration. But leave unto us, we do it with ease and perfection.