The ITR-4 form for the assessment year (AY) 2026-27 introduces mandatory investment disclosure for presumptive taxpayers. This change impacts individuals and businesses eligible to file under the presumptive taxation scheme.
To file the ITR-4 form, taxpayers should visit the Income Tax e-Filing Portal. The process involves verifying personal and financial details, accurately entering income and deduction information, and validating the form. Submission can be completed using either Aadhaar OTP or Electronic Verification Code (EVC).
Eligibility for filing ITR-4 includes individuals with income not exceeding ₹50 lakh from business activities. Specific conditions apply to freelancers and property owners to qualify under this scheme.
The updated form aims to enhance transparency and ensure accurate reporting of investments by taxpayers opting for the presumptive taxation method.
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