{"id":12913,"date":"2020-09-10T12:51:24","date_gmt":"2020-09-10T07:21:24","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=12913"},"modified":"2020-09-16T14:11:02","modified_gmt":"2020-09-16T08:41:02","slug":"form-itr-4-sugam-form","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/","title":{"rendered":"Form ITR 4: Changes Made in the Assessment Year 2020 \u2013 2021"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The term \u201c<strong><em>Form ITR 4<\/em><\/strong>\u201d denotes an <strong><em>Income Tax Return<\/em><\/strong> (ITR) filed by the <strong><em>taxpayers<\/em><\/strong> who are falling under the \u201c<strong><em>Presumptive Income Scheme<\/em><\/strong>\u201d under <strong><em>section 44 AD<\/em><\/strong>, <strong><em>section 44 ADA<\/em><\/strong>, and <strong><em>section 44 E<\/em><\/strong> of the IT Act 1961. Further, another name for the Income <strong>Tax Return 4 is \u201cSugam\u201d<\/strong>.<\/p>\n\n\n\n<p>In this blog, we will discuss about <strong><em>Form\nITR 4<\/em><\/strong>, together with the <strong><em>procedure to file<\/em><\/strong> and <strong><em>changes\nmade<\/em><\/strong> in the <strong><em>Assessment Year 2020-2021<\/em><\/strong>.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2ccae389ec0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2ccae389ec0\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Concept_of_Presumptive_Taxation_Scheme\" title=\"Concept of Presumptive Taxation Scheme\">Concept of Presumptive Taxation Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Who_are_all_eligible_to_File_Form_ITR_4\" title=\"Who are all eligible to File Form ITR 4?\">Who are all eligible to File Form ITR 4?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Who_are_all_not_Eligible_to_File_Form_ITR_4\" title=\"Who are all not Eligible to File Form ITR 4?\">Who are all not Eligible to File Form ITR 4?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Due_Dates_of_Filing_ITR_4\" title=\"Due Dates of Filing ITR 4\">Due Dates of Filing ITR 4<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Latest_Modifications_Made_in_ITR_4\" title=\"Latest Modifications Made in ITR 4\">Latest Modifications Made in ITR 4<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Details_Regarding_High_Value_Transactions\" title=\"Details Regarding High Value Transactions\">Details Regarding High Value Transactions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Introduction_of_Schedule_D1\" title=\"Introduction of Schedule D1\">Introduction of Schedule D1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#More_than_1_Bank_Account_for_Refund\" title=\"More than 1 Bank Account for Refund\">More than 1 Bank Account for Refund<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Insertion_of_Section_80_EEA_and_80_EEB\" title=\"Insertion of Section 80 EEA and 80 EEB\">Insertion of Section 80 EEA and 80 EEB<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#When_is_SUGAM_not_mandatory_to_File\" title=\"When is SUGAM not mandatory to File?\">When is SUGAM not mandatory to File?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Structure_of_ITR_Form_4\" title=\"Structure of ITR Form 4\">Structure of ITR Form 4<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Modes_of_Filing_ITR_4\" title=\"Modes of Filing ITR 4\">Modes of Filing ITR 4<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Procedure_to_file_Form_ITR_4\" title=\"Procedure to file Form ITR 4\">Procedure to file Form ITR 4<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Offline_Procedure\" title=\"Offline Procedure\">Offline Procedure<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Who_can_File_ITR_4_offline\" title=\"Who can File ITR\n4 offline?\">Who can File ITR\n4 offline?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#How_to_File_ITR_4_offline\" title=\"How to File ITR\n4 offline?\">How to File ITR\n4 offline?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Online_Procedure\" title=\"Online Procedure\">Online Procedure<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Who_can_File_ITR_4_online\" title=\"Who can File ITR\n4 online?\">Who can File ITR\n4 online?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#How_to_File_ITR_4_offline-2\" title=\"How to File ITR 4 offline?\">How to File ITR 4 offline?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Download_the_E-Form\" title=\"Download the\nE-Form\">Download the\nE-Form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Fill_in_the_Details\" title=\"Fill in the Details\">Fill in the Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Verification_of_Form\" title=\"Verification of Form\">Verification of Form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Submit_the_Form\" title=\"Submit the Form\">Submit the Form<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-4-sugam-form\/#Performa_for_Form_ITR_4\" title=\"Performa for Form ITR\n4\">Performa for Form ITR\n4<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Presumptive_Taxation_Scheme\"><\/span>Concept of Presumptive Taxation Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term \u201c<strong><em>Presumptive Taxation Scheme<\/em><\/strong>\u201d denotes\na scheme by which the small taxpayers who perform tasks, such as the <strong><em>auditing\n<\/em><\/strong>and<strong><em> maintenance of accounts <\/em><\/strong>and<strong><em> ledgers<\/em><\/strong> would receive\nsome sort of relief. <\/p>\n\n\n\n<p>That means <strong><em>any individual<\/em><\/strong> who is looking to\navail of this scheme will be become <strong><em>eligible to declare <\/em><\/strong>his\/her <strong><em>total\ntaxable income<\/em><\/strong> at a <strong><em>predefined rates, <\/em><\/strong>while acquiring relief\nfrom the<strong><em> burdensome task of Account Maintenance and Audit.<\/em><\/strong><\/p>\n\n\n\n<p><em>The different types of <\/em><strong><em>Presumptive Taxation Schemes<\/em><\/strong><em> are as follows:<\/em><\/p>\n\n\n\n<ol><li>Section 44AD;<\/li><li>Section 44ADA;<\/li><li>Section 44E;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_are_all_eligible_to_File_Form_ITR_4\"><\/span>Who are all eligible to File Form ITR 4?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"1024\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-Eligible-to-File-Form-ITR-4-1024x1024.png\" alt=\"eligibility to File Form ITR 4\" class=\"wp-image-12916\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-Eligible-to-File-Form-ITR-4-1024x1024.png 1024w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-Eligible-to-File-Form-ITR-4-150x150.png 150w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-Eligible-to-File-Form-ITR-4-300x300.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-Eligible-to-File-Form-ITR-4-768x768.png 768w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-Eligible-to-File-Form-ITR-4.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n\n<p>An <strong><em>Individual<\/em><\/strong>, <strong><em>Hindu Undivided Family<\/em><\/strong>,\nand <strong><em>Firms<\/em><\/strong>\n(other than <strong><em>Limited Liability Partnerships<\/em><\/strong>), who is an <strong><em>Indian Resident <\/em><\/strong>and who\nare falling under any of the following sources are <strong><em>eligible to file ITR 4<\/em><\/strong>:<\/p>\n\n\n\n<ol><li>Total Income up\nto Rs 50 Lakhs;<\/li><li>Earning under\nthe head of PGBP from section 44 AD, 44 ADA, 44 E;<\/li><li>Income from\nSalary;<\/li><li>Income from\nPension;<\/li><li>Income from\nOther Sources;<\/li><li>Agricultural\nIncome up to Rs 5000;<\/li><li>Having a Single\nHouse Property;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_are_all_not_Eligible_to_File_Form_ITR_4\"><\/span>Who are all not Eligible to File Form ITR 4?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"1024\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-not-Eligible-to-File-Form-ITR-4-1024x1024.png\" alt=\"not Eligible to File Form ITR 4\" class=\"wp-image-12917\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-not-Eligible-to-File-Form-ITR-4-1024x1024.png 1024w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-not-Eligible-to-File-Form-ITR-4-150x150.png 150w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-not-Eligible-to-File-Form-ITR-4-300x300.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-not-Eligible-to-File-Form-ITR-4-768x768.png 768w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Who-are-all-not-Eligible-to-File-Form-ITR-4.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n\n<p><em>The ones who are <\/em><strong><em>not eligible to file Form ITR 4 <\/em><\/strong><em>are as follows:<\/em><\/p>\n\n\n\n<ol><li>Director of a\nCompany;<\/li><li>Shareholder of\nan Unlisted Company;<\/li><li>An individual\nwho is having an Asset located outside India;<\/li><li>An Individual\nwho has signing authority in an account located outside India;<\/li><li>An Individual\nwho is earning income from any source outside India;<\/li><li>Total Income is\nabove Rs 50 Lakhs;<\/li><li>Having more than\n1 House Property;<\/li><li>A Resident but Not\nOrdinary Resident;<\/li><li>Having Foreign\nIncome and Foreign Assets;<\/li><\/ol>\n\n\n\n<p class=\"text-left\"><b>Also, Read<\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-1-sahaj-form\/\">Form ITR 1<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Due_Dates_of_Filing_ITR_4\"><\/span>Due Dates of Filing ITR 4<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The government and the Income Tax Department have\ndecides to extend the due dates of filing <strong><em>ITR Form 4<\/em><\/strong> till <strong><em>30.11.2020<\/em><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Latest_Modifications_Made_in_ITR_4\"><\/span>Latest Modifications Made in ITR 4<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Latest-Modifications-Made-in-ITR-4-1024x768.png\" alt=\"Latest Modifications Made in ITR 4\" class=\"wp-image-12918\" width=\"507\" height=\"380\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Latest-Modifications-Made-in-ITR-4-1024x768.png 1024w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Latest-Modifications-Made-in-ITR-4-300x225.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Latest-Modifications-Made-in-ITR-4-768x576.png 768w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Latest-Modifications-Made-in-ITR-4.png 1200w\" sizes=\"(max-width: 507px) 100vw, 507px\" \/><\/figure><\/div>\n\n\n\n<p>The <strong><em>latest modifications made in ITR Form 4<\/em><\/strong>\nare as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Details_Regarding_High_Value_Transactions\"><\/span>Details Regarding High Value Transactions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_278.png\" alt=\"High Value Transactions\" class=\"wp-image-12923\" width=\"650\" height=\"146\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_278.png 498w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_278-300x67.png 300w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/figure><\/div>\n\n\n\n<p>Under<strong><em>\u00a0Part A<\/em><\/strong>\u00a0of the\u00a0<strong><em>ITR Form 4<\/em><\/strong>, a taxpayer now requires to <strong><em>fill additional information <\/em><\/strong>asked under the<strong><em>7<sup>th<\/sup>\u00a0Proviso<\/em><\/strong> of section 139(1) of the <strong><em>IT Act 1961.<\/em><\/strong>\u00a0Such\u00a0<strong><em>additional details\u00a0and information <\/em><\/strong>are as follows:<\/p>\n\n\n\n<ol><li>If in case the taxpayer has deposited <strong><em>above Rs 1 crores<\/em><\/strong> in one or more <strong><em>Current Bank Accounts<\/em><\/strong>;<\/li><li>If in case the taxpayer has incurred expenses <strong><em>above Rs 2 lakhs<\/em><\/strong> on <strong><em>Foreign Travelling<\/em><\/strong>;<\/li><li>If in case the taxpayer has incurred a cost of <strong><em>Rs 1 lakh<\/em><\/strong> on <strong><em>Electricity Consumption<\/em><\/strong>;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction_of_Schedule_D1\"><\/span>Introduction of Schedule D1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" loading=\"lazy\" width=\"436\" height=\"220\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_276.png\" alt=\"Introduction of Schedule D1\" class=\"wp-image-12922\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_276.png 436w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_276-300x151.png 300w\" sizes=\"(max-width: 436px) 100vw, 436px\" \/><\/figure><\/div>\n\n\n\n<p>As we all aware that the IT\nDepartment had allowed the taxpayers with a privilege to make some tax saving\ninvestments for the <strong><em>F.Y. 2019-2020<\/em><\/strong> till <strong><em>30.06.2020 <\/em><\/strong>due to the <strong><em>COVID-19\nlockdown<\/em><\/strong>. Therefore, the tax department decided to introduce this\nschedule. <\/p>\n\n\n\n<p>Under this section, the taxpayer\nrequires to provide details and information for every <strong><em>deposit, donations, <\/em><\/strong>and<strong><em>\ninvestments<\/em><\/strong> made by him\/her up to<strong><em>30.06.2020<\/em><\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"More_than_1_Bank_Account_for_Refund\"><\/span>More than 1 Bank Account for Refund<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" loading=\"lazy\" width=\"519\" height=\"109\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_279.png\" alt=\"Bank Account for Refund\" class=\"wp-image-12924\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_279.png 519w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_279-300x63.png 300w\" sizes=\"(max-width: 519px) 100vw, 519px\" \/><\/figure><\/div>\n\n\n\n<p>Earlier, there was a requirement for\nthe taxpayer to<em>&nbsp;choose only 1 bank account&nbsp;<\/em>in which he\/she\nwants to&nbsp;<strong><em>get a refund<\/em><\/strong>. However, as per the&nbsp;<strong><em>new\nmodifications made in form ITR 4<\/em><\/strong>, the taxpayer can now&nbsp;<strong><em>opt<\/em>\n<em>for more than 1 bank account&nbsp;<\/em><\/strong>to claim&nbsp;a <strong><em>refund<\/em><\/strong>.\nFurther, the<strong><em>&nbsp;CPC (Centralized Processing Centre)<\/em><\/strong>&nbsp;will<em>&nbsp;credit<\/em>&nbsp;the\namount claimed <em>in 1 of the bank account<\/em>&nbsp;after duly processing the\nreturn filed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Insertion_of_Section_80_EEA_and_80_EEB\"><\/span>Insertion of Section 80 EEA and 80 EEB<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" loading=\"lazy\" width=\"415\" height=\"235\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_277.png\" alt=\"Section 80 EEA and 80 EEB\" class=\"wp-image-12925\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_277.png 415w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/rsz_screenshot_277-300x170.png 300w\" sizes=\"(max-width: 415px) 100vw, 415px\" \/><\/figure><\/div>\n\n\n\n<p>Now, section <strong><em>80 EEA<\/em><\/strong> and <strong><em>80\nEEB<\/em><\/strong> as new deductions have been included under \u2018<strong><em>Schedule VI-A<\/em><\/strong>\u2019. Further,\na <strong><em>drop\ndown<\/em><\/strong> menu has been provided to provide the <strong><em>details of donations<\/em><\/strong>\nunder <strong><em>section 80G<\/em><\/strong>.<\/p>\n\n\n\n<p class=\"text-left\"><b>Have a look at<\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-2\/\">Form ITR 2<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_is_SUGAM_not_mandatory_to_File\"><\/span>When is SUGAM not mandatory to File?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>SUGAM or Form ITR 4 is a simplified Return Form used\nby the Taxpayer, at his\/her choice, if he\/she is eligible to declare income\nearned from Business and Profession on Presumptive Basis Scheme under Section\n44 AD, 44 ADA, or 44 AE.<\/p>\n\n\n\n<p><em>However, the cases where there is no need for the Assessee to file Form ITR 4 on a mandatory basis are as follows:<\/em><\/p>\n\n\n\n<ol><li>Maintains all\nthe Books of Accounts and other Relevant Documents referred under section 44\nAA; and <\/li><li>Gets his\/her\naccounts audited and collected the Audit Report under section 44 AB as well;<\/li><\/ol>\n\n\n\n<p>In these situations, the assessee needs to file a\nRegular Return, i.e., ITR 3 and ITR 4 as applicable.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Structure_of_ITR_Form_4\"><\/span>Structure of ITR Form 4<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>The structure of ITR Form 4 can be summarised as follows:<\/em><\/strong><\/p>\n\n\n\n<ol><li><strong>Part A<\/strong>: General Information;<\/li><li><strong>Part B<\/strong>: Gross Total Income from the 5 Heads of Income;<\/li><li><strong>Part C<\/strong>: Deduction and Total Income Taxable;<\/li><li><strong>Part D<\/strong>: Computation of Tax and Status of Tax;<\/li><li><strong>Schedule BP<\/strong>: Details of the Income Earned From the Business or Profession and Computation of the Presumptive Business Income as per Section 44 AD;<\/li><li><strong>Schedule IT<\/strong>: Statement of the Payment of Advance Tax and Tax Charged on Self Assessment;<\/li><li><strong>Schedule TCS<\/strong>: Statement of the Tax Collected at Source;<\/li><li><strong>Schedule TD S1<\/strong>: Statement of the Tax Deducted at Source on Salary;<\/li><li><strong>Schedule TD S2<\/strong>: Statement of the Tax Deducted at Source on the Income other than Salary;<\/li><li><strong>Schedule D1<\/strong>: Statement of the Investments or Payments or Deposits in the extended period from 01.04.2020 until 30.06.2020.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Modes_of_Filing_ITR_4\"><\/span>Modes of Filing ITR 4<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Modes-of-Filing-ITR-4-1024x768.png\" alt=\"Modes of Filing ITR 4\" class=\"wp-image-12919\" width=\"481\" height=\"361\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Modes-of-Filing-ITR-4-1024x768.png 1024w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Modes-of-Filing-ITR-4-300x225.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Modes-of-Filing-ITR-4-768x576.png 768w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Modes-of-Filing-ITR-4.png 1200w\" sizes=\"(max-width: 481px) 100vw, 481px\" \/><\/figure><\/div>\n\n\n\n<p><strong><em>The modes of filing ITR 4 are as follows:<\/em><\/strong><\/p>\n\n\n\n<ol><li>By Furnishing in a Paper Form;<\/li><li>By Furnishing Electronically under DSC (<strong>Digital Signature Certificate<\/strong>);<\/li><li>By Electronically Transmitting Data in the ITR, after that submitting the Return Form ITR V;<\/li><li>By Filing Bar Coded Return;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procedure_to_file_Form_ITR_4\"><\/span>Procedure to file Form ITR 4<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Procedure-to-file-Form-ITR-4-1024x512.png\" alt=\"Procedure to file Form ITR 4\" class=\"wp-image-12920\" width=\"508\" height=\"254\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Procedure-to-file-Form-ITR-4-1024x512.png 1024w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Procedure-to-file-Form-ITR-4-300x150.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Procedure-to-file-Form-ITR-4-768x384.png 768w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/Procedure-to-file-Form-ITR-4.png 1200w\" sizes=\"(max-width: 508px) 100vw, 508px\" \/><\/figure><\/div>\n\n\n\n<p><em>There are&nbsp;2 Ways of <strong>Filing ITR Form 4<\/strong>, which are as follows:<\/em><\/p>\n\n\n\n<ol><li>Offline Procedure;<\/li><li>Online Procedure;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Offline_Procedure\"><\/span>Offline Procedure<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><em>The particulars of Offline Procedure are as follows:<\/em><\/strong><\/p>\n\n\n\n<ol><li>Who can File ITR\n4 offline? and<\/li><li>How to File ITR\n4 offline? <\/li><\/ol>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_can_File_ITR_4_offline\"><\/span>Who can File ITR\n4 offline?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>The ones eligible to file ITR 4 are as follow:<\/strong><\/p>\n\n\n\n<ol><li>An Individual\nwho is above the age of 80 years;<\/li><li>The total income\nof an Individual is below Rs 5 lakhs; and <\/li><li>One who is not\neligible to claim a refund in the Income Tax Act;<\/li><\/ol>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_File_ITR_4_offline\"><\/span>How to File ITR\n4 offline?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><strong>The ways of filing ITR 4 offline are as follows:<\/strong><\/p>\n\n\n\n<ol><li>By Providing\nReturn in a Physical Paper Form; or<\/li><li>By Furnishing a\nBar Coded ITR;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Online_Procedure\"><\/span>Online Procedure<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>The particulars of Online Procedure are as follows:<\/strong><\/p>\n\n\n\n<ol><li>Who can File ITR\n4 offline?; and<\/li><li>How to File ITR\n4 offline?<\/li><\/ol>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_can_File_ITR_4_online\"><\/span>Who can File ITR\n4 online?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Every person who is not covered under the offline\nmode of filing ITR 4 needs to file the same online on a mandatory basis.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_File_ITR_4_offline-2\"><\/span>How to File ITR 4 offline?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>The steps included in the process to file Form ITR 4 online are as follows:<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Download_the_E-Form\"><\/span>Download the\nE-Form<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Firstly,\nthe applicant or the taxpayer needs to download the E-form ITR 4 from the\nofficial Income Tax Portal at&nbsp;<a href=\"https:\/\/www.incometaxindiaefiling.gov.in\/home\">http:\/\/www.incometaxindiaefiling.gov.in\/home<\/a>;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fill_in_the_Details\"><\/span>Fill in the Details<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Now, the taxpayer&nbsp;or\nassessee <em>requires&nbsp;to fill in all the details<\/em>&nbsp;asked in\ndifferent parts and schedules of the form.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Verification_of_Form\"><\/span>Verification of Form<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>At this stage, the taxpayer or\nthe assessee needs to get his\/her&nbsp;<strong><em>Form&nbsp;ITR 4&nbsp;verified\nor authenticated<\/em>. <\/strong><strong>The ways for Verification and Authentication are as\nfollows: <\/strong>&nbsp;<\/p>\n\n\n\n<ol><li>Getting the Form signed Digitally; or<\/li><li>By Validating the ITR by <strong>Electronic Verification Code<\/strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Electronic_authentication\">[1]<\/a>  (EVC);<\/li><\/ol>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Submit_the_Form\"><\/span>Submit the Form<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Now, if the taxpayer or\nassessee wants to submit his\/her ITR online, then an acknowledgment will be\nsent on the registered email id.<\/p>\n\n\n\n<p>However,\nif he\/she desires to send it manually, then first download the E-form from the\nofficial website, and then courier or speed post the same to the CPC Office of\nthe Income Tax Department, located at Bangalore, within 120 days, starting from\nthe date of filing.<\/p>\n\n\n\n<p>Moreover, it shall be noteworthy to note that <strong>Form ITR 4<\/strong> is an annexure less Income Tax Return, i.e., there is no need to annex any record or document.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After\ndiscussing in-depth it will be right to say that, nowadays,&nbsp;the <strong><em>prime\nobjective<\/em><\/strong> of <strong><em>the government<\/em><\/strong>&nbsp;is&nbsp;to\nprovide <strong><em>tax <\/em><\/strong><strong><em>benefits<\/em><\/strong><strong> to <em>taxpayers or assesses<\/em><\/strong>&nbsp;of&nbsp;<em>all income groups<\/em>&nbsp;in the\nmid of the&nbsp;<em>COVID-19 crisis<\/em>.<\/p>\n\n\n\n<p>Further, the&nbsp;<em>due dates for Filing ITR\nForm 4<\/em>&nbsp;have been<em>&nbsp;extended by the Income Tax Department and\nCentral Government to 30.11.2020<\/em>.<\/p>\n\n\n\n<p>In case of any other confusion, then visit our service page named&nbsp;<strong><em><a href=\"https:\/\/swaritadvisors.com\/income-tax-return-filing\">Income Tax Return Filing<\/a><\/em><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Performa_for_Form_ITR_4\"><\/span>Performa for Form ITR\n4<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<a href=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/09\/itr4_english.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">itr4_english<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n\n\n\n<p class=\"text-left\"><b>See our Recent Publish <\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/swaritadvisors.com\/learning\/form-itr-3\/\">Form ITR 3: Latest Updates and Procedure to File Online<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The term \u201cForm ITR 4\u201d denotes an Income Tax Return (ITR) filed by the taxpayers who are falling under the \u201cPresumptive Income Scheme\u201d under section 44 AD, section 44 ADA, and section 44 E of the IT Act 1961. Further, another name for the Income Tax Return 4 is \u201cSugam\u201d. In this blog, we will [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":12921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[416],"tags":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/12913"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/comments?post=12913"}],"version-history":[{"count":9,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/12913\/revisions"}],"predecessor-version":[{"id":13048,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/12913\/revisions\/13048"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media\/12921"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media?parent=12913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/categories?post=12913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/tags?post=12913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}