आयटीआर - 4 सुगम फिलिंग्ज ए.वाय.आर. 2021-22

Here we will discuss the details required to be filled in ITR-4. 

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PART-A - GENERAL INFORMATION 

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Part A of the ITR-4 contains some general information such as Name, PAN, Date of birth, Mobile No. , Email ID, Aadhar No., type of filing, nature of Employment, whether the filing id original or  revised, whether the filing is u/s 139 i.e. on time or belated, etc. Also, it asks whether you are opting for New Tax Regime u/s 115BAC. The details are also provided if the return is being filed in compliance of Seventh proviso to Section 139(1). 

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PART B - GROSS TOTAL INCOME 

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Here the details of Income from Business or Profession, Salary Income, House Property Income and Other sources of Income have to be provided. The details of Business/Profession Income u/s 44AD, ADA & AE is auto-populated from the Schedule of Business/Profession. 

The Gross Total Income arrives after all income adjustments. 

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PART C - DEDUCTIONS AND TAXABLE TOTAL INCOME 

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Various deductions under chapter VIA such as 80C, 80CCC, 80CCD, 80D, 80E, 80EE, 80G, 80TTA, 80TTB, 80U, etc. have to be filled in here to arrive at taxable total income. 

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PART D - TAX COMPUTATION AND TAX STATUS

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The tax on total income is arrived at after taking into account all rebates and reliefs and also interest payable u/s 234A, B, C, etc., and also the refund if any. 

Details of all bank accounts have to be filled in. 

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SCHEDULE - BP  - DETAILS OF INCOME FROM BUSINESS OR PROFESSION 

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Under this Schedule, Details of Income from Business or Profession have been divided into three sections i.

(i) u/s 44AD   - Here the gross receipts from Business have to be bifurcated into cash and otherwise than cash has to be disclosed separately so as to arrive at a Profit of 6% or 8% respectively. 

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(ii) u/s 44ADA - Here the gross receipts from the profession have to be filled so as to arrive at net profit of 50% of gross receipts. 

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(iii) u/s 44AE - Here, the details of the Vehicles such as registration no., ownership or leased, no. of months for which it was used and the receipts on the basis of tonnage capacity of vehicle has to be filled. 

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In all the above sections, the Business Code, Name of the Business and Description has to be provided. 

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Information regarding GST turnover has also to be disclosed if GST no. is there for any business. 

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Financial Particulars of the Business - There are 15 items provided for information such as Capital, Secured & unsecured loans, Advances, Sundry Creditors, Other Liabilities, Fixed Assets, Inventories, sundry Debtors, Balance with Banks, Cash in hand, Loans and Advances and other Assets. 

All the details related to the Balance Sheet of the Business.

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However, only four details i.e. Sundry Creditors, Inventories, Sundry Debtors and Cash in hand are mandatory and others are optional. 

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SCHEDULE IT - DETAILS OF ADVANCE AND SELF ASSTT. TAX 

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Here are complete details of challans paid for advance tax and self asstt. tax have to be filled in such as BSR code, date of payment, challan sr. no. etc. 

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SCHEDULE TCS - DETAILS OF TAX COLLECTED AT SOURCE [AS PER FORM 27D]

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Here complete details of TCS as per Form 27D have to be filled up if there is any tax collected at source. 

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SCHEDULE TDS-1  - TDS FROM SALARY 

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Here details of TDS deducted from salary have to be filled up as per Form 16 issued by Employer 

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SCHEDULE TDS-2 - TDS FROM INCOME OTHER THAN SALARY 

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Here details of TDS deducted have to be filled up as per Form 16A or 16C,16D furnished by Deductor

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VERIFICATION 

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The last part is verification which can be done through Aadhaar OTP, Digital Signature, or other modes of e-verification prescribed. If no such mode is available, then the ITR-V acknowledgment has to be physically signed and send to CPC-Bangluru within 30 days of E-filing of ITR. 

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