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Individual having Income from Business / Profession for AY 2026-2027
01 Sep 2026
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| 1. ITR-3 – Applicable for Individual & HUF | |
| This return is applicable for Individual & Hindu Undivided Family (HUF): | |
| Having Income under the heads Salary/Pension, House Property, Profits or Gains of Business or Profession, Capital Gains or Income from Other sources. | Who is not eligible for filing ITR-1, ITR-2 or ITR-4 |
| 2. ITR-4 (SUGAM) – Applicable for Individual, HUF & Firm (Other than LLP) |
| This return is applicable for an Individual or Hindu Undivided Family (HUF), who is Resident other than not ordinarily Resident or a Resident Firm (other than LLP) having total Income up to ₹ 50 lakh and having income from Business or Profession which is computed on a presumptive basis (u/s 44AD / 44ADA / 44AE of the Income Tax Act,1961) and income from any of the following sources:Salary / PensionTwo House PropertiesOther sources (Interest, Family Pension, Dividend etc.)Agricultural Income up to ₹ 5,000Capital Gain Income u/s 112A of the Income Tax Act,1961 up to upto ₹ 125000 |
Note:1
ITR-4 cannot be used by a person who:
- is a Director in a Company, or
- has short term Capital gains
- has Long-term capital gain u/s 112A (Income Tax Act,1961) exceeding Rs.1.25 lakhs
- has held any unlisted equity shares at any time during the previous year
- has any asset (including financial interest in any entity) located outside India, or
- has signing authority in any account located outside India, or
- has income from any source outside India,
- is a person in whose case payment or deduction of tax has been deferred on ESOP
- who has brought any loss or loss to be carried forward under any head of income; or
- has total income exceeding Rs. 50 lakhs.
- have income from retirement benefit account maintained in a notified country u/s 89A.
- have income from retirement benefit account maintained in a country other than notified country u/s 89A.
- have any income chargeable at special rate.
Note:2
Form ITR-4 (SUGAM) is not mandatory. It is a simplified return form to be used by an assessee, at his / her option, if he / she is eligible to declare Profits and Gains from Business or Profession on presumptive basis under Section 44AD, 44ADA or 44AE of Income Tax Act,1961