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The article discusses  Income Tax Return ITR 4 (Sugam) Form Structure applicable for FY 2020-21 / AY 2021-22.

ITR 4 (SUGAM) Form

Form ITR‐4 (Sugam) 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 under section 44AD, 44ADA or 44AE.

 

ITR 4 (SUGAM) Return Form Structure

Part‐ A – General Information

The general information part contains the following:

PERSONAL INFORMATION

• First Name
• Middle Name
• Last Name
• PAN
• Date of Birth
• Flat/ Door/ Block No.
• Name of Premises/ Building /
• Village
• Road/ Street/Post Office
• Area/ Locality
• Town/ City/ District
• State
• Country
• PIN Code/ Zip Code
• Aadhaar Number (12 digits) / Aadhaar Enrolment Id (28 digits)
• Status
• Residential/ Office Phone Number with STD code/ Mobile No.1
• Mobile No.2
• Email Address (Self)
• Email Address‐2
• Nature of Employment
• Filed u/s Or filed in response to notice u/s If revised/defective, enter Receipt No. and Date of filing original return
• If filed in response to notice u/s 139(9)/142(1)/148 or order u/s 119(2)(b)‐ enter Unique Number/ Document Identification Number (DIN) & Date of such Notice or Order
• Are you opting for new tax regime u/s 115BAC? If yes, please furnish date of filing of form 10‐IE along with acknowledgment number.
  • Assessee having income from business and profession has to mandatorily file Form 10‐IE to opt for new tax regime u/s 115BAC.
  • If new tax regime is opted, loss under the head House Property is not allowed to be set off and the following deductions/allowances cannot be claimed
    • Certain allowances u/s section 10 (LTA, HRA, allowances granted to meet expenses in performance of duties of office, Allowances granted to meet personal expenses in performance of duties of office, Allowance received by MP/ MLA/ MLC)
    • Deductions u/s 16 (Standard Deduction, Entertainment allowance and Professional tax)
    • Interest payable on borrowed capital for self occupied property
    • Standard Deduction in case of family pension
    • Chapter VIA Deduction (life insurance, health insurance premium, pension funds, provident fund, donation etc except Contribution made by employer to notified pension scheme u/s 80CCD(2)).
  • Are you filing return of income under seventh proviso to section 139(1) but otherwise not required to furnish return of income? (Not applicable in case of Firm)

[Note: To be filled only if a person is not required to furnish a return of income under section 139(1) but filing return of income due to fulfilling one or more conditions mentioned in the seventh proviso to section 139(1)]

• • Have you deposited amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current account during the previous year?
  • Have you incurred expenditure of an amount or aggregate of amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or for any other person?
  • Have you incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity during the previous year?

• Whether this return is being filed by a representative assessee. Representative Assessee should furnish the following information:‐
  • Name of the representative
  • Capacity of the representative (select from drop down list)
  • Address of the representative
  • PAN of the representative
  • Aadhaar No. of the representative

Part B – Gross Total Income

Income from salary/pension

• Income from Business & Profession
• Gross Salary
  • Salary as per section 17(1)
  • Value of perquisites as per section 17(2)
  • Profits in lieu of salary as per section 17(3)
• Less allowances to the extent exempt u/s 10 [Ensure that it is included in salary income u/s 17(1)/17(2)/17(3)]
• Net Salary
• Deductions u/s 16
  • Standard Deduction u/s 16(ia)
  • Entertainment allowance u/s 16(ii)
  • Professional tax u/s 16(iii)
• Income chargeable under the Head ‘Salaries’

Income from house property

• Type of House Property
• Gross rent received/ receivable/ lettable value during the year
• Tax paid to local authorities
• Annual Value
• 30% of Annual Value
• Interest payable on borrowed capital
• Arrears/Unrealized Rent received during the year Less 30%
• Income chargeable under the head ‘House Property’ (If loss, put the figure in negative)
• Note: Maximum loss from house property that can be set‐off is INR 2, 00,000. To avail the benefit of carry forward and set of loss, please use ITR 3 or ITR 5.

Income from other Sources

Less: Deduction u/s 57(iia) (In case of family pension only)

• Gross Total Income To avail the benefit of carry forward and set of loss, please use ITR ‐3/5. FY 2020-21 AY 2021-22 – Income Tax Return ITR 4 SUGAM Form Structure.

Part –C – Deductions and taxable total income

• Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.
• Deduction respect of contribution to Certain Pension Funds
• Deduction in respect of contribution to pension scheme of Central Government
• Deduction in respect of contribution to pension scheme of Central Government.
• Deduction in respect of contribution of employer to pension scheme of Central Government
• Deduction in respect of health insurance premia
• Deduction in respect of maintenance including medical treatment of a dependent who is a person with disability
• Deduction in respect of medical treatment etc.
• Deduction in respect of interest on loan taken for higher education
• Deduction in respect of interest on loan taken for residential house property
• Deduction in respect of interest on loan taken for certain house property
• Deduction in respect of purchase of electric vehicle.
• Deduction in respect of donations to certain funds, charitable institutions, etc.
• Deduction in respect of rents paid
• Deduction in respect of contributions given by any person to Political parties
• Deduction in respect of interest on deposits in savings account
• Deduction in respect of interest on deposits in case of senior citizens
• Deduction in case of a person with disability
• Total Deductions
• Taxable Total Income

 

Part –D – Tax Computation and Tax Status

• Tax payable on total income
• Rebate u/s 87A
• Tax payable after Rebate
• Health and Education Cess @4%
• Total Tax & Cess
• Relief u/s 89 (Please ensure to submit Form 10E to claim this relief)
• Balance Tax After Relief
• Interest u/s 234A
• Interest u/s 234B
• Interest u/s 234C
• Fee u/s 234F
• Total Tax, Fee and Interest
• Total Advance Tax Paid
• Total Self‐Assessment Tax Paid
• Total TDS Claimed
• Total TCS Claimed
• Total Taxes Paid
• Amount payable
• Refund
• Exempt income (For reporting Purposes) (If agricultural income is more than Rs.5,000/‐, use ITR 3/5)
• Details of Bank Accounts held in India at any time during the previous year
  • IFS Code of the bank
  • Name of the Bank
  • Account Number

 

Schedule BP – Details of Income from Business or Profession

• Gross Turnover or Gross Receipts:‐
  • Through a/c payee cheque or a/c payee bank draft or bank electronic clearing system received or prescribed electronic modes received before specified date
  • Any other mode
• Presumptive Income under section 44AD: ‐
  • 6% of E1a or the amount claimed to have been earned, whichever is higher
  • 8% of E1b or the amount claimed to have been earned, whichever is higher
  • Total amount of presumptive income declared u/s 44AD
• Gross Receipts
• Presumptive Income under section 44ADA (50% of E3) or the amount claimed to have been earned, whichever is higher

Presumptive income from goods carriages u/s 44AE

• Registration No.
• Whether owned/ leased/ hired
• Tonnage capacity
• Number of months
• Presumptive income u/s 44AE
• Presumptive Income from Goods Carriage u/s 44AE
• Salary and interest paid to the partners
• Presumptive Income u/s 44AE
• Income chargeable under Business or Profession
• GSTIN No(s).
• Annual value of outward supplies as per the GST returns filed
• Partners/ Members own capital
• Secured loans
• Unsecured loans
• Advances
• Sundry creditors
• Other liabilities
• Total capital and liabilities
• Fixed assets
• Inventories
• Sundry debtors
• Balance with banks
• Cash‐in‐hand
• Loans and advances
• Other assets
• Total assets

 

Schedule 80G – Details of donations entitled for deduction u/s 80G

• Name and address of donee
• PAN of donee
• Total amount of donation – give break‐up of amount paid in cash/other mode
• Amount which is eligible for deduction

 

Schedule 80D – Deduction in respect of health insurance premia

• Whether you or any of your family member (excluding parents) is a senior citizen
• Self & Family
• Health Insurance
• Preventive Health Checkup
• Self & Family Including senior citizen
• Health Insurance
• Preventive Health Checkup
• Medical Expenditure (This deduction can be claimed on which health insurance is not claimed at (i) above)
• Whether any one of your parents is a senior citizen
• Parents
• Health Insurance
• Preventive Health Checkup
• Parents Including senior citizen
• Health Insurance
• Preventive Health Checkup
• Medical Expenditure (This deduction can be claimed on which health insurance is not claimed at (i) above)

Schedule‐IT: Details of Advance/Self‐assessment tax payments

• BSR Code
• Date of Deposit
• Serial Number of Challan
• Amount

 

Schedule‐TCS: Details of TCS

• TAN of the Collector
• Name of the Collector
• Details of amount paid as mentioned in Form 26AS
• Tax collected
• Amount out of (4) being claimed

 

Schedule TDS‐1 – Details of TDS from Salary

• TAN of the Employer
• Name of the Employer
• Income under salary
• Tax deducted. FY 2020-21 AY 2021-22 – Income Tax Return ITR 4 SUGAM Form Structure.

 

Schedule TDS‐2 – Details of TDS on income other than salary

• TAN of the Deductor /PAN/Aadhaar No. Of Tenant
• Unclaimed TDS brought forward (b/f)
• TDS of the current financial year
• TDS credit being claimed this year
• Corresponding withdrawals/receipts offered
• TDS credit being carried forward