Changes in Form ITR-4 (SUGAM) – AY 2020-21 (FY 2019-20)

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Who can file this form?

ITR-4 can be filed by an Individuals, HUFs, and Firms (other than LLP) being a resident having total income up to Rs. 50 lakhs and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE (i.e. Taxation of Income on presumptive basis).

ITR-4 cannot be used by an individual who is either a director of a company or has invested in unlisted equity shares anytime during the period for which ITR is filed.

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Changes in ITR 4 for AY 2020-21

1. In the new ITR Form, assesee should specify whether he is filing return of income under Seventh proviso to section 139(1) but otherwise not required to furnish return of income?

If yes, following information need to be furnished:

  • Have you deposited amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current account during the previous year? (Yes/No) (If Yes specify Amount)
  • 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? (Yes/ No) (If Yes specify Amount)
  • Have you incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity during the previous year? (Yes/No) (If Yes specify Amount)

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2. In new form, Changes made in Nature of Employment section and following options are provided to choose from:

  • Central Govt.
  • State Govt.
  • Public Sector Undertaking
  • Pensioners
  • Others
  • Not Applicable (e.g. Family Pension etc.)

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3. Individuals who are having carry forward and set off of losses, are required to file ITR-3 or 5 and is not eligible to file their return using ITR-4.

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4. Under ‘deduction’ section, assesee should clearly mention that, Whether, he had made any investment/ deposit/ payments between 01.04.2020 to 30.06.2020 for the purpose of claiming any deduction under Part B of Chapter VIA? If Yes, specify details in Schedule DI.

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5. Earlier in ITR-4, there is a separate schedule that an assesee needs to fill for claiming Deduction u/s 80G named ‘Schedule 80G’ is now deleted in new ITR-4.

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