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ITR-4 Income Tax Filing with Tax2win

ITR filing for the Financial Year 2024–25 has started , releasing the utilities for ITR-1 and ITR-4. The due date of filing this year has been extended from 31st july to 15 September. This year, some important changes have been introduced.

While filing your return, you now need to disclose detailed deduction information — including policy numbers, document IDs, and more — especially if you're claiming deductions like HRA, 80C, or 80D.

What is the Eligibility Criteria for Filing ITR-4?

  • The taxpayer should be an individual, HUF, or partnership firm.
  • The taxpayer should be a resident of India.
  • The taxpayer should have income from business or profession.
  • The taxpayer should have opted for the presumptive taxation scheme under Section 44AD, Section 44ADA, or Section 44AE.
  • The total income of the taxpayer should not exceed Rs. 50 lakh (75 lakhs if 95% of the receipts are through non-cash channels)
  • The taxpayer should not have income from more than one house property.
  • The taxpayer should not have income from capital gains except from the sale of assets mentioned in Section 44AD(1).
  • If the agricultural income of the taxpayer is upto Rs.5000.
  • As per the latest update for filing for FY 2024-25, if you have long-term capital gains up to Rs 1.25 lakh from the sale of listed equity shares and equity-oriented mutual funds, then from this year, you can use ITR-1 to file tax return. Till previous years, taxpayers having any capital gains were not allowed to file a tax return using the ITR-1 form. They were required to file their tax returns using ITR-2 form
  • The ITR form now feature a drop-down menu in the utility for selecting deductions claimed under sections like 80C and 80GG. Additionally, assessees must furnish section-wise details regarding Tax Deducted at Source (TDS) deductions within the ITR.

Income from othere sources including -

  • Interest from savings account
  • Interest from deposits
  • Interest from income tax refund
  • Family pension
  • Interest received on enhanced compensation
  • Any other interest income

Tax2win’s AI-powered self-filing platform makes it easy. You can now file your ITR-4 in just 4 minutes, without any confusion.

In this step-by-step video, we walk you through the entire ITR-4 filing process, from login to submission, covering new changes in the Income Tax Portal and how Tax2win makes it simple for salaried individuals to file their returns quickly and accurately.

Read More About ITR-4:- https://tax2win.in/guide/itr-4

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