![]() SCHEDULE BP: Income details of business/es that come under Section 44AD, 44ADA 44EA. ![]() Part D: This part of the ITR-4 form is for tax computation and status.Part C: This part is for total taxable income and deduction.Part B: This part holds the income information from five heads of pay, such as house property, salary and income from other sources.Part A: The first part contains general information like name, date of birth and address.Each section acquires information regarding the different aspects of an individual’s tax declaration. There are two sections of the ITR 4 form. Gross income of up to INR 50 lakh from other sources like freelancing, family pension, interests from savings accounts, unsecured loans, ITR, etc.If your income is earned from a profession listed under Section 44ADA.Your business income comes under Section 44AD or 44AE.Income of INR 50 lakh generated from One House Property in the form of rent or transfer.Income of INR 50 lakh through salary or pension.Who is Eligible to File ITR 4?Īny taxpayer (individual, HUF or partnership firm) can file ITR 4 if they match the following criteria. If the turnover of the taxpayer exceeds INR 2 crore, the taxpayer needs to file ITR 3 form. It is for those individuals who have selected a presumptive income scheme (PIC) under Sections 44AE, 44ADA, and 44AD of the Income Tax Act and has a business turnover of or less than INR 50 lakh. ITR 4 is one of the Indian income tax return forms. Major Changes Made in ITR 4 for AY 2020-21.Who is not Eligible to File the ITR 4 for AY 2021-2022?.What are the Documents Required to File ITR-4?.What is the Structure of the ITR 4 Form?.
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