ITR-4 (Sugam) – For Presumptive Taxation Scheme
Who Can File?
- Individuals, HUFs, and firms (except LLPs) with business/profession under presumptive taxation
- Business income up to ₹2 crore under Section 44AD
- Professional income up to ₹50 lakh under Section 44ADA
- Individuals with income from salary/pension, one house property, and other sources (excluding capital gains)
Who Cannot File?
- Businesses with turnover exceeding ₹2 crore
- Professionals earning more than ₹50 lakh
- Individuals with capital gains or foreign income/assets
Best For:
Small business owners, freelancers, shopkeepers, traders, and professionals using the presumptive taxation scheme.
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