Business ITR standard
Efile Sugam or ITR4. For stocks/F&O traders, agents, consultants, professionals, and contractors.
Are you an Individual having income from business, trading in stocks/MFs/futures/options, commission as insurance agent, or professional consultancy? Or do you have income from tuition/coaching classes, shopkeepers doing retail business (gross receipts below Rs 60 lakh during the year), vehicle leasing (Max 10 vehicle)? If yes, then our Business ITR standard plan is just for you. Like all our eFile packages, it includes verification of ITR data with the data available with I-T department database.
Who’s it for?
Business ITR standard is a basic starter plan for Individuals other than employees who are interested in self-preparing and e-filing tax returns. With Business ITR standard you can file your ITR4 or SUGAM within 10 minutes through authorized e-return intermediary.
Who should not use it?
You should not use Business ITR standard if you have income from Commission agent business,speculation business, or agriculture or any profession, or previous year loss to be adjusted. In such cases, we recommend you to select Business ITR with Balance Sheet Plan and our experts will prepare the return for you.
How does it work?
It’s simple. You can enter income from any source including business or profession, whether it’s salary, house property i.e., rental income, capital gains i.e., profit/loss on sale of property/shares/jewellery etc., other sources like interest, dividend and income from business or profession. Depending on your sources of income, our system will automatically generate the correct ITR form for you.
Keep following documents/information with you while self preparing your ITR4
- Form 16 (salary certificate), if you have worked for any part of the year as an employee
- Form 16A (professional fee) for the period worked as professional or contractor and bank interest certificates
- Rent receipts, rent agreement and Form 16A if TDS has been deducted on rent
- Interest & principal certificate from bank, if you have taken any home loan for self occupied house
- Income from capital gain: details of shares sold during the year sale amount and date/cost of purchase (demat statement from broker)
- Details of property or jewellery purchased or sold during the year
- Income from other sources
- Proof of tax deposited if any other than salary/professional fee certificate
- Copy of bank statement with details of payments to/receipts from – to determine whether the purpose of expense is business or professional
- Copy of PAN card and previous year ITR filed
- Copy of all the books of account, bank statements, bills for expenses incurred for performing the professional duties
- Copies of tax saving investments to be claimed
Rs. 749 only