Itr iv

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JYOTHILAKSHMI (Querist)

03 July 2015 Is ITR IV(for individual having income from business) is changed for 2015-16?
What is ITR 4S (SUGAM) For Individuals/HUF having income from presumptive business.

Kindly reply.Thanks in advance.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

03 July 2015 no, its same for business income file itr 4 only and in case of presumptive taxation scheme file itr4s

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

03 July 2015 ITR-4S (SUGAM)

Who can use this Return Form?

This Return Form can be be used by Individual/HUF whose total income for the assessment year 2015-16 includes:-

(a) Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE (i.e. on presumptive basis)
(b) Income from salary/ Pension
(c) Income from one house property (excluding cases where loss is brought forward from previous years)
(d) Income from other sources (Excluding winning from lottery and income from race horses)

Who can not use this Return Form?

This Return Form should not be used Individual/HUF whose total income for the assessment year 2015-16 includes:-

(a) Income from more than one house property; or
(b) Income from Winnings from lottery or income from Race horses; or
(c) Income under the head "Capital Gains”; or
(d) Agricultural income in excess of 5,000; or
(e) Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE ; or
(f) Person claiming relief under section 90 and/or 91; or
(g) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or
(h) Any resident having income from any source outside India

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