Complete Guide to ITR-4 Form

The report, issued by the Ministry of Finance, the deadline for filing tax returns is extended from 31 July 2018 until 31 August 2018.

For the year of assessment 2018-19, the format was changed to include the GST part with detailed financial information. The old tax form ITR-4S was renamed ITR-4.

1. What is the ITR 4 for AY 2017-18 and 2018-19 AY?
Form ITR-4 is the tax return form for those taxpayers who have opted for the scheme estimated income under section 44 ad, 44ADA Section and Section 44AE the Income Tax Act. However, if the turnover of the business referred to above is greater than Rs 2 crore, the taxpayer must submit an ITR-third

Click here to download the ITR-4 for the assessment year 2018-19

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What is the structure ITR 4 for AY 2018-19 and 2017-18 AY?

ITR-4 is divided into:

  • Part A: General information
  • Part B: gross total income of the five chapters Revenue
  • Part C: deduction and the total taxable income
  • Part D: The tax calculation and tax status
  • Checking and signing of the return
  • Schedule BP: Details of income from business
    * (For AY 2018-19, the form has been modified to include details of GST, along with detailed financial information to be provided under Schedule BP)
  • Schedule AL: assets and liabilities at year-end (applicable if the total income exceeds Rs 50 lakh)
  • Schedule IT: application for payment of advance tax and self-esteem.
  • Schedule-TCS: Statement of taxes withheld at source.
  • TDS1 Schedule: The application of the tax withheld at the source of wages.
  • TDS2 Schedule: The application of the tax withheld at the source of income other than wages.
  • Additional schedule TDS1
  • Additional schedule TDS2
  • Additional schedule IT
  • Additional schedule TCS

2. What is the structure of MFI 4 for AY 2018-19 and 2017-18 AY?

Here are a few general guidelines to keep in mind when filling out your form ITR-4:

  • If a schedule does not apply to you, hit him, and through him to write -NA-
  • If an item does not apply to you, write NA against him
  • Show zero digits «Nil»
  • Located – sign in front of negative numbers “”
  • All figures should be rounded to the nearest one rupee except for indicators on the total profit/loss and tax payable. Those have to be rounded to the nearest multiple of ten.
  • If you are an individual, under the employer category you need to tick the government if you are Central / State Government employee. You must tick PSU if you work in the public sector companies in Central / State Government.

3. How do I file the ITR-4 form for AY 2017-18 and 2018-19 AY?

You can send the ITR-4 form online or offline.

Offline:

Form ITR can be filed only in the standalone mode in any of the following cases:

  • The individual has an age of 80 years and more.
  • Individual income is less than Rs 5lakhs and which do not require compensation in the income tax return.

The return may be filed in standalone mode:

  • By providing a return in the form of physical securities
  • Providing return barcode
  • Income tax department will give you a confirmation at the time of your physical paper return.

Online:

  • By providing a return in electronic form in accordance with the digital signature
  • When transferring data in electronic form, and then supplying verification return form of return ITR-V.

If you submit your ITR-4 form in electronic form in accordance with the digital signature confirmation will be sent to your registered email id. You can also download it manually from the income tax website. Then you have to sign it and send it to the IRS CTC office in Bangalore within 120 days of e-filing.

Remember that ITR-4 is fewer APPENDIX forms, i.e. you do not have to make all the documents when you send it.

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Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.

Certicom Consulting

Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.