ITR4 - Filing - FilingIn

ITR-4 Filing

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

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

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

Business Income under Section 44AD/Section 44AE.
Income from a profession as per Section 44ADA.
Income up to Rs. 50 lakh from Salary or Pension.
Income up to Rs. 50 lakh from One house property (that does not include the brought forward loss o loss that is to be brought forward under this head)
Income from other sources up to Rs.50 lakh (does not include winning from lottery or horse races)
Form ITR 4 can also be filed by the freelancers if the income is not exceeding Rs.50 lakh.

Holds Directorship in a company
Holds any unlisted equity shares at any time during the previous year
Has assets/financial interest in an entity outside India
Has signing authority in any account outside India
Has income from a source located outside India
Has profits from a business or profession which is not required to be computed under sections 44AD, 44ADA, or 44AE, like income from a speculative business, commission, brokerage, etc.
Makes Capital Gains
Has income from more than one house property
Has income under the head “other sources“ from winning the lottery, horse races, income taxable at special rates u/s 115BBDA or 115BBE
Has income which is to be apportioned under the provisions of Section 5A
Has agricultural income exceeding INR 5,000
Has any brought forward loss or loss which is to be carried forward under any income head
Has loss under “income from other sources”
Has a claim of relief under Sections 90, 90A or 91
Has any deduction claim under Section 57 (except deduction relating to family pension)
Has claim of tax credit which has been deducted at source in the hands of another person
Has joint ownership in house property (inserted in AY 20-21).