ITR-4 Return Filing in Gujarat

ITR 4 return filing in Gujarat is for the taxpayers who have opted for a presumptive taxation scheme under Sections 44D, 44DA, 44AE of the Income Tax Act. The presumptive taxation scheme has exempted all the small taxpayers from maintaining the book of accounts thereby reducing the compliance burden. If the turnover is exceeding Rs.2 crore then the taxpayer is required to file ITR 3 Returns.

Who is eligible to file ITR 4 Return Filing in Gujarat ?

ITR 4 return filing in Gujarat is to be done by the individuals who satisfy the following conditions:

• Business Income under Section 44AD/Section 44AE
• Income from the profession as per Section 44DA
• Income from Salary or Pension is about Rs.50 lakhs
• Income from one house property is about Rs.50 lakh.
• Income from other sources is up to Rs.50 lakh (Does not include winning the lottery or horse races)
• ITR 4 return filing in Gujarat can also be done by freelancers if in case their income is not exceeding Rs.50 lakh.

How to file ITR 4 returns in Gujarat ?

ITR 4 return filing in Gujarat can be both online as well as offline.

How to file ITR 4 returns in Gujarat online?

• To file ITR 4 Returns in Gujarat online one has to furnish returns digitally using the Digital Signature Certificate
• Or by transmitting the data electronically and then submitting the verification of the returns made in Form ITR V.

If in case ITR 4 filing in Gujarat is done using the Digital Signature then an acknowledgment is sent to the registered Email id.

How to file ITR 4 returns in Gujarat offline?

• By furnishing the returns made in a physical form
• By furnishing a bar-coded return- An acknowledgment is issued once the physical paper return is submitted.

What is the structure of the Form ITR 4 Returns in Gujarat ?

The structure of Form ITR-4 is as follows

• Part A: General Information
• Part B: Gross total income under the five heads of income
• Part C: Deductions and Total Taxable Income
• Schedule BP: Details of Income from Business
• Schedule 80G: Details of Donations entitled for deduction under Section 80G
• Schedule IT: Statement of payment of advance tax and tax on self-assessment
• Schedule- TCS: Statement about Tax Collected at source
• Schedule TDS1: Statement of Tax Deducted at Source on Salary
• Schedule TDS2: Statement of tax deducted at source on income apart from salary
• Verification column

In this way, you can file the ITR 4 returns in Gujarat with the help of IndiaFilings.