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Income Tax Return Form ITR-4

Income Tax Return ITR 4 Form is applicable to Individual & HUF who are doing any business and profession and they are not filing their Income Tax Return under section 44AD .i.e. Computing profits and gains of business on presumptive basis” for them ITR 4S is appicable.

  1. Who can use this ITR 4 Form

    Income Tax Return ITR 4 Form is to be used by an individual or a HUF who is carrying out a business or profession.

  2. Assessment year for which this return form is applicable:

    This Return Form is relates to Income earned in Financial Year 2011-12 and its applicable for assessment year 2012-13.

  3. Filling out the Acknowledgement

    Only one copy of this return form is required to be filled where the return form is furnished, the acknowledgement slip attached with this return form should be duly filled.

  4. Obligation to file Return

    The deduction under sections 10A, 10B, 80-IA, 80-IB, 80-IAB and 80IC shall not be allowed unless the Return has been filed. The losses shall not be allowed to be carried forward. Every Individual and HUF has to furnish the Return of his total Income before allowing deduction under section 10A or 10B, 10BA and chapter VI-A of a Income Tax Act, exceeds the maximum which is obligate to furnish his Income Tax return.

The maximum amount not chargeable to Income Tax in case of different categories of individual is as follows: -

S.No.CategoryAmount
(In Rs.)
(i)In case of individual below the age of 60 years (other than woman)1,80,000
(ii)In case of women below the age of 60 years1,90,000
(iii)In case of individuals who are of the age of 60 years or more at any time during the financial year2011-122,50,000
(iv)In case of individual who are of the age of 80 years or more at any time.5,00,000

Necessary item for filling Income Tax Return form:

  1. Please provide your bank details in all situations irrespective of whether you have refund or not you have to quote the MICR code of the bank, MICR CODE is the combination of the PIN code of the place where your branch is situated and serial of the branch.
  2. Fill your Permanent Account Number. Make sure that you fill your PAN carefully. Ensure that your enter PAN on the top of every page and in your PAN, first five and last one digit are alphabets and the remaining four digits are numerals.
  3. Please sign in the box given and complete the verification section without signature you form won’t be accepted by the Income Tax Department.
  4. Before Filling Income Tax Return form, please see the Income Tax Rule, 1962 and the Income Tax Act, 1961.

Download ITR Form In Excel Format, Download ITR-4

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