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Breif
ITR-4
(Sugam) is for taxpayers opting for presumptive taxation to simplify income
calculation.
Overview
ITR-4 allows eligible taxpayers to declare income as a
prescribed percentage of turnover or gross receipts. It simplifies tax
compliance while ensuring legal accuracy. Bizeneed ensures correct eligibility
assessment, computation, and timely filing.
Checklist
Documents Required for ITR-4
- Bank statements
- Sales or gross receipts
- Expense proofs (if applicable)
- Client invoices
- Receipts
- Expense bills
- PAN card
- Aadhaar card
- Bank account details
Time Taken
Total Time: Approximately 5–10 working days from the date of receipt of all documents.
- Time may vary based on complexity and data availability.
Deliverable
The following deliverables are included in the ITR-4
Basic Plan. Deliverables for other packages may vary accordingly:
- Filed ITR-4 acknowledgment
- Tax computation summary
- Refund status guidance
- Post-filing support
Why Choose Us
Choose Bizeneed for filing your ITR-4 because we provide expert CA assistance for accurate and compliant filing under the presumptive taxation scheme for small businesses and professionals. We ensure correct income calculation, maximum legal tax optimization, and timely compliance while minimizing the risk of income-tax notices through proper review and disclosures. From document collection to return filing, e-verification, and post-filing support, Bizeneed offers end-to-end service with transparent pricing, strict data confidentiality, and hassle-free compliance—making us a trusted choice for small taxpayers across India.
FAQs
Individuals, HUFs, and firms with business or professional income under presumptive taxation.
Presumptive taxation is a simplified tax scheme where income is calculated as a percentage of turnover or gross receipts.
Yes, if you are eligible under Sections 44AD, 44ADA, or 44AE.
No, it is optional for eligible taxpayers.
Yes, eligible deductions can be claimed under the scheme.
Less detailed books are required compared to regular taxation, but basic records must be maintained.
Yes, ITR-4 must be e-verified within 30 days of filing.
Yes, ITR-4 can be revised within the specified time limit.
Yes, but conditions apply based on turnover and business type.
Yes, we provide support for income tax notices and queries.
Client invoices, receipts, and professional income details.
Yes, freelancers under presumptive taxation can file ITR-4.
Turnover limits depend on the specific presumptive section (e.g., 44AD, 44ADA).
Depreciation is generally not allowed under presumptive taxation.
Yes, multiple professional incomes can be included if eligible.