ITR-4

GargeFilings: ITR-4 Filing Services

About GargeFilings: GargeFilings is a trusted provider of tax and compliance services, dedicated to simplifying the tax filing process for individuals and businesses. Our team of experienced professionals offers comprehensive ITR-4 filing services, ensuring accurate and timely submission of your income tax return. We aim to make the tax filing process hassle-free, allowing you to focus on your financial planning and goals.

ITR-4 Filing Services: Income Tax Return (ITR) Form 4, also known as Sugam, is for individuals, Hindu Undivided Families (HUFs), and firms (other than LLP) who have opted for the presumptive income scheme under Sections 44AD, 44ADA, and 44AE of the Income Tax Act. This form is suitable for small businesses and professionals. GargeFilings provides end-to-end assistance in filing your ITR-4, ensuring compliance with the latest tax regulations and maximizing your eligible deductions.

Who Can File ITR-4:

• Individuals, HUFs, and Firms: Resident individuals, HUFs, and firms (other than LLP) with the following sources of income:
  • Business income under the presumptive income scheme under Section 44AD or 44AE
  • Professional income under the presumptive income scheme under Section 44ADA
  • Income from salary or pension
  • Income from one house property (excluding cases where loss is brought forward from previous years)
  • Income from other sources (excluding winnings from lottery and income from racehorses)

Who Cannot File ITR-4:

• Individuals with income exceeding ₹50 lakh
• Non-residents and not ordinarily residents (RNOR)
• Individuals or HUFs having income from more than one house property
• Individuals with income under the head "capital gains"
• Individuals with income from business or profession not opting for the presumptive income scheme
• Individuals with agricultural income exceeding ₹5,000
• Individuals with income from speculative business and other special incomes

Required Documents for ITR-4 Filing: To facilitate a smooth and accurate filing process, GargeFilings requires the following documents from clients:

1. PAN Card: A copy of your Permanent Account Number (PAN) card.
2. Aadhaar Card: A copy of your Aadhaar card.
3. Form 16: Issued by your employer, this form details your salary income and tax deductions.
4. Form 16A/16B/16C: If applicable, these forms are for TDS on income other than salary, TDS on sale of property, and TDS on rent, respectively.
5. Profit and Loss Statement: Detailed profit and loss statement for the financial year (if applicable).
6. Bank Statements: Statements of all your business and personal bank accounts.
7. Investment Proofs: Documents for investments eligible for tax deductions under Section 80C, 80D, etc., such as LIC, PPF, NSC, ELSS, medical insurance, etc.
8. Home Loan Statement: If applicable, the interest certificate from the bank or financial institution for claiming deductions on home loan interest.
9. Rental Agreement and Rent Receipts: If you are claiming House Rent Allowance (HRA) exemption.
10. Interest Certificates: From banks and post offices for interest earned on savings accounts and fixed deposits.
11. Form 26AS: A consolidated tax statement available on the income tax department's website, which shows the amount of tax deducted and deposited with the government.
12. Business Receipts: Proof of income and receipts from business activities under the presumptive income scheme.
13. Agricultural Income Proof: If you have agricultural income, provide proof of income.
14. Other Income Proof: Documents related to any other sources of income, such as family pension, etc.

How GargeFilings Can Help:

• Consultation: Expert advice on the documentation and eligibility for deductions and exemptions.
• Document Collection and Verification: Assistance in gathering and verifying all necessary documents.
• Accurate Filing: Ensuring accurate data entry and computation of your tax liability.
• Maximizing Deductions: Identifying all possible deductions and exemptions to minimize your tax liability.
• Timely Submission: Ensuring your ITR is filed well before the due date to avoid penalties.
• Post-Filing Support: Assistance with any queries or issues that may arise after filing, including responses to notices from the Income Tax Department.

With GargeFilings, you can be assured of a seamless and accurate ITR-4 filing experience. Our commitment to professionalism and attention to detail ensures that your tax return is in full compliance with the latest regulations, maximizing your benefits and minimizing your stress. Trust GargeFilings to be your reliable partner in managing your tax obligations efficiently.