All about ITR-4 (SUGAM)

Applicable for Individual, HUF Resident other than NOR or a Firm (other than LLP) which is a Resident having Total Income up to ₹ 50 lakh and having Income from PGBP which is computed on a presumptive basis and income from any of the following sources:

• Salary/ Pension
• One House Property
• Other Sources (Interest, Family Pension, Dividend Etc.)
• Agricultural Income (upto Rs. 5,000)
• Income from Business/ Profession computed on presumptive basis u/s 44AD/ 44ADA/ 44AE.

Note: ITR-4 cannot be used by a person who:

1. is a Director in a company
2. has held any unlisted equity shares at any time during PY
3. has any asset located abroad
4. has signing authority in any account abroad
5. has income from any source abroad
6. is a person in whose case payment or deduction of tax has been deferred on ESOP

Please note that ITR-4 (Sugam) is not mandatory. It is a simplified return form to be used by an Assessee, at his option, if he is eligible to declare Profits and Gains from Business and Profession on presumptive basis u/s 44AD, 44ADA or 44AE.