ITR - 4 Filling

  ITR - 4 Filling

Filing Income Tax Return (ITR) - 4 applies to individuals and Hindu Undivided Families (HUFs) who have income from business or profession and have opted for the presumptive taxation scheme under Section 44AD, 44ADA, or 44AE of the Income Tax Act. Here's a step-by-step guide to filing ITR-4:

1. Registration/Login:

2. Select Form:

  • After logging in, select "Income Tax Return" under the "e-File" tab. Choose the Assessment Year, Form ITR-4, and the filing type (Original/Revised Return).

3. Pre-fill Data:

  • Your personal details, income details, and tax payments for the financial year will be pre-filled in the form based on your PAN and TDS (Tax Deducted at Source) statements.

4. Fill in Details:

  • Verify pre-filled details and fill in any additional details required, such as income from business or profession, presumptive income, partners' share of income from firm, and details of deductions under various sections of the Income Tax Act.

5. Calculate Tax:

  • After entering all details accurately, the tax payable or refundable will be calculated automatically.

6. Validate and Generate XML:

  • Validate the filled form to check for errors. If no errors are found, proceed to generate the XML file.

7. Submit Return:

  • Upload the XML file generated to the e-filing portal. If you have a digital signature, you can digitally sign the form and submit it. Alternatively, you can E-Verify the return using the Electronic Verification Code (EVC) or Aadhaar OTP.

8. Acknowledgment:

  • After successful submission, an acknowledgment containing an Acknowledgment Number and details of the submitted return will be generated. Save and print the acknowledgment for future reference.

9. Verification:

  • If you have not e-verified the return, you must send the signed ITR-V (Acknowledgment) to the Centralized Processing Center (CPC), Bengaluru, within 120 days of e-filing.

10. Verification Status:

- Check the status of your return to ensure it has been successfully filed and processed.

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