Income Tax Return for Business Income ITR 4S Sugam

Income Tax Return ITR 4S is applicable for Person Doing Business and Not Maintaning Books of Accounts Income Tax Return ITR-4S Sugam

1. Applicable Assessment year
   

   Income Tax Return (ITR 4S) form is relates to Income earned in financial year 2011-12 and it is applicable for assessment year 2012-13.
   

2. Applicability of ITR 4S (SUGAM)
   

   An Individual/HUF whose total Income includes for the assessment year:-
   

   1. Income from Salary/Pension;
      
   2. Income from one House Property (excluding cases where loss is brought forward from previous year;)or
      
   3. Income from Other Sources(Excluding Income from Horses race and lottery)
      
   4. Income from Business and not maintaining books of accounts
      
3. Who cannot use this return form
   
   1. Income from more than one House Property; or
      
   2. Income from Horses race or winning Lottery; or
      
   3. Income under the head Capital Gain (not exempt from Tax), short term or long term Capital Gain from sale of house, plot; or
      
   4. Agriculture Income excess RS. 5000; or
      
   5. Speculative Business and other special Income; or
      
   6. Income from a Profession as referred to in sub –section (1) of section 44AA or Agency Income or Commission and brokerage Income.
      
4. Filling out the Acknowledgement:
   

   Where the return form is furnished by bar- coded or a paper form return, the acknowledgement slip should be attached with the form.
   

5. Obligation to file return
   

   Every Individual whose total Income before allowing deductions under Chapter VI-A of the Income Tax Act, exceed the maximum amount not chargeable to Income Tax is obligated to furnish his return of income.
   

6. Necessary item for filling Income Tax Return form
   
   1. 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 numeral.
      
   2. 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.
      
   3. Please sign in the box given and complete the verification section without signature your form won’t be accepted by the Income Tax Department.
      

Download ITR Form In Excel Format, Download ITR-4S

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