4. ITR-4 (SUGAM) – Applicable for Individual, HUF and 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 Firm (other than LLP) which is a Resident 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) and income from any of the following sources:

Salary / PensionOne House PropertyOther sources (Interest, Family Pension, Dividend etc.)
Agricultural Income up to ₹ 5,000

Please note that  ITR-4 (Sugam) is not mandatory. It is a simplified return form to be used by an Assessee, at his option, if he is eligible to declare Profits and Gains from Business or Profession on presumptive basis u/s 44AD, 44ADA or 44AE.

Note: ITR-4 cannot be used by a person who:
(a) is a Director in a company
(b) has held any unlisted equity shares at any time during the previous year 
(c) has any asset (including financial interest in any entity) located outside India 
(d) has signing authority in any account located outside India 
(e) has income from any source outside India 
(f) is a person in whose case payment or deduction of tax has been deferred on ESOP
(g) who has any brought forward loss or loss to be carried forward under any head of income