ITR 4S also called as SUGAM is an Income Tax Return Form is mainly filed by taxpayers who do not maintain regular books of accounts and compute their income under Section 44AD @ 8% of the Total Turnover of the business.

After computing the income @ 8% of the total turnover, the tax would be computed as per the income tax slab rates in force and various income tax deductions would also be allowed from the same.

Recommended Read:

  1. Current Income Tax Slab Rates
  2. 11 useful Income Tax Deductions

ITR 4S (SUGAM) can be filed by only those taxpayers whose total turnover during the financial year from any business does not exceed Rs. 1 Crore. The due date for filing ITR 4S for the Assessment Year 2016-17 is 31st July 2016.

In case the turnover of the business is more than Rs. 1 Crore, the business cannot make use of presumptive taxation under Section 44AD and they would be required to compute their income as per the normal provisions of the income tax act (i.e. Income = Revenue – Expense – Depreciation)

Moreover, such class of taxpayers whose turnover exceeds Rs. 1 Crore cannot furnish ITR 4S (SUGAM) and would be required to get their Tax Audit done under Section 44AB by a Chartered Accountant and the due date for filing the return in such a case would be 30th Sept.

ITR 4S Form: PDF & Java Utility

The PDF Income Tax Return Form for Manual Filing and Java Utility for online filing can be downloaded from the below mentioned links:-

  • PDF Form ITR 4S for Manual Filing in 2016
  • Java Utility for Online filing of ITR 4S in 2016
  • Excel Utility for Online filing of ITR 4S in 2016

ITR 4S Return Form should either be digitally signed or signed manually by taking a print out of the ITR V Acknowledgement generated on submitting the Return on the Income Tax website. This printed and signed ITR V should be sent to the Income Tax CPC Bangalore Office within 120 days of filing of return.

No supporting document like Form 16/ Form 16A/ Form 16B/ Form 26AS or any other supporting document is required to be sent along with ITR V Acknowledgement. However, the taxpayers should keep a copy of all supporting documents with them as these would be required in case called upon by the Income Tax Officer.

Taxpayers not eligible to furnish ITR 4S

Taxpayers earning income from any of the below mentioned sources are not allowed to use ITR 4S (SUGAM) for filing their income tax returns:-

  1. Income from more than 1 House Property; or
  2. Income from winning from Lottery or Income from Race Horses; or
  3. Income under head Capital Gains; or
  4. Income from Agriculture or Exempt Income in excess of Rs. 5000; or
  5. Income from Speculative Business; or
  6. Income from a profession referred to in Section 44AA or income from an agency business or income from of commission for brokerage; or
  7. Person claiming Relief of Foreign Tax paid under Section 90 or 91