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Difference between itr-4 and itr-4s (Income Tax)

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This query is : Resolved

( Querist )
10 August 2011

What is the difference between ITR-4 and ITR-4S, and who will file ITR-4S


( Expert )
10 August 2011

ITR 4S has been specifically prescribed for the assessees showing their business income on presumptive Basis and are having Turnover/Gross Receipts not exceeding Rs 60.00lacs. He can show 1 House property income in this form.

However, for professionals and persons carrying on business having 60.00 lac above turnover , have to file the TAx Audit Report and their return will be filed in ITR4.

In case assessee is having Capital Gains income as well as business income also has to file ITR 4.

CA. Dashrath Maheshwari

( Expert )
10 August 2011

ITR-4: ITR-4 form will be used for Individuals and HUFs having income from a properietory business or profession for the Assessment Year 2011-12 as per Rule 12 of the Income Tax-Rules,1962)

ITR-4S (SUGAM): This form will be used for submitting online Indian Income Tax Return for Presumptive Business Income Return. for the Assessment Year 2011-12 as per rule 12 of the Income Tax-Rules 1962.



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