With due consideration to the types of assessee and forms for filing ITRs under the Income Tax Department, the filing of ITR-04, also known as Sugam, is done by an eligible assessee opting for a presumptive taxation scheme to bring into light his/her gains and profits either through business or profession as per the section 44AD, 44ADA, or 44AE. But the matter of concern is to present in a perfect format so that it will get approval in the first go and you do not have to revise or file it all over again, which is possible to achieve through WEB-e-Tax. WEB-e-Tax is India’s fastest ITR filing software making it easy to file any ITR from 1 to 7.

Let’s collect all the necessary documents before starting with the filing of ITR-04.

• PAN Card

• Aadhaar Card

• Form 16/16A

• Detail of total turnover in case of business or total receipts in case of the profession

• Investment Proof

• Month wise Salary slip in case Form 16 is not issued by the employer

Go step by step and get your ITR-04 ready with Web-e-Tax.

1. In the first step create the assessee master details for which you want to file the ITR and the Assessee Master contains basic information like Name, PAN, Address, Date of Birth, Business Code, Details of Auditor, and select the Source of Income also, In the 2nd section provide the Bank Details of the assessee/taxpayer then click on Save to save the assessee master details.

   

   

   

   

2. In the next step select the created assessee master from the list (Shortcut Key-F3).

   

3. After the selection of Created Assessee Master, Click on the Balance sheet option from the main screen of the software.

   

4. Fill in the details in the Balance sheet.

   

5. Similarly, fill in the details in the Profit & Loss Account. A note has been provided in the Profit & Loss Account as Profit & Loss Account is not mandatory in the case of ITR-4

   

6. After providing the details in the Balance sheet and Profit and loss account details, fill in the details in the computation.

   

7. Fill in the income and deduction details of the assessee in the computation.

   

8. In the computation, double click on any head in which you want to fill the income details of the assessee like the Income from Business or Profession and other income heads. To provide the details of the Schedule Business or Profession, double click on the Presumptive Business Income option and fill in the details.

   

9. Fill in the details of Gross Turnover or Gross Receipts then presumptive income will be calculated automatically.

   

10. After providing the details of Presumptive income fill in the other head income details if any like income from House Property, Income from Other Sources, and so on. Fill in the details in Chapter VI-A from 80 C to 80U to claim the exemptions for the investments.

    

11. As per the income and deduction details in the software, the tax will be calculated automatically according to the slab rates. And in the case of an individual, the tax will be calculated as per both the tax regimes for the tax comparison.

    If the user wants to change the tax regime then they can click on Change to New Regime option to opt for the new tax regime.

    

After providing all the income and exemption details, go to Generate & Upload JSON without DSC (Ctrl G) option to generate the JSON file and directly upload it on the income tax portal.

By now, all your doubts regarding the user ability of Web-e-tax have been washed away, as you have found your companion to file ITRs in the simplest and faster manner with Webtel’s compliance solution Web-e-Tax.

Simplify the process of the filing of your ITRs by the means of Web-e-Tax along with active customer support at contactus@webtel.co.in or on 7303393220. If you are looking to get an overview of Web-e-Tax before contacting us, then do click here to know more about Webtel’s Income Tax Filing Software Web-e-Tax.