ITR 4 is to be filed by the individuals/HUF/ partnership firm whose total income of AY 2020-21 includes :
a. Business income under section 44AD or 44AE
b. Income from profession calculated under section 44ADA
c. Salary/pension having income up to Rs 50 lakh d. Income from One House Property having income up to Rs 50 lakh
Who is not required to file ITR 4 for AY 2020-21?
a. An individual having income from salary, house property or other sources above Rs 50 lakh cannot use this form.
b. An individual who is either a director in a company and has invested in unlisted equity shares cannot use this form.
c. An individual, HUF or partnership firm whose books of accounts should be audited under the Income Tax Act, 1961.
ITR 4 shall not be filed if assessee has:
a. to avail the benefit of carry forward and set of loss under house property;
loss under other sources;
b. any claim of relief under section 90 and/or section 91;
c. any claim of credit of tax deducted at source in the hands of any other person.
Investment / deposit / payments between 01.04.2020 to 30.06.2020 for the purpose of claiming any deduction under Part B of Chapter VIA to be filled under Schedule DI.
E-Filing website : www.incometaxindiaefiling.gov.in
GST Case Laws : gst.taxpundit.org
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