The Income Tax Return Form 4 (ITR-4) in India is a simplified income tax return form designed for individuals, Hindu Undivided Families (HUFs), and firms (excluding LLPs) who opt for the Presumptive Taxation Scheme under Section 44AD, Section 44ADA, or Section 44AE of the Income Tax Act, 1961. Here’s a comprehensive guide on ITR-4:

Documents Required:
1. Bank statements.
2. Form 16 or Form 16A (TDS certificates).
3. Profit & Loss Account details (if applicable).
4. GST details (if registered under GST).
5. Proof of investments for deductions under Chapter VI-A (e.g., Section 80C, 80D).

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Key Due Dates
Filing due date (non-audited cases): 31st July of the assessment year.
Tax audit cases (if opting out of presumptive scheme): 31st October.

Penalties for Non-Filing:

₹1,000 for income below ₹5 lakh.

₹5,000 for income above ₹5 lakh.