Due Date
July 31 (non-audit) / Oct 31 (audit)
Penalty if Missed
₹10,000 penalty + 1% interest/month
What is Business ITR (3 & 4)?
ITR-4 (Sugam) is for individuals, HUFs, and firms opting for the Presumptive Taxation Scheme under Section 44AD, 44ADA, or 44AE. Small traders, shopkeepers, freelancers, and professionals typically file ITR-4. ITR-3 is for those with regular business income maintaining books of accounts. Our CA team advises the most tax-efficient option for your business.
What We Need
- PAN Card and Aadhaar Card
- Profit & Loss account summary and Balance Sheet
- Sales and purchase details / annual turnover
- Bank statements for all business accounts
- GST returns summary for the year
- TDS certificates (Form 16A / 26AS)
- Investment proofs for deductions
Service Plans
Most Popular
ITR-3 (Regular)
₹3,999
- Full filing service
- Penalty prevention
- Dedicated CA support
- Priority processing
ITR-3 + Audit
₹4,999
- Everything in Standard
- CA consultation
- Tax planning advice
- Annual review included
Frequently Asked Questions
What is Presumptive Taxation (Section 44AD)?
Under Section 44AD, businesses with turnover up to ₹2 crore can assume 8% (6% for digital) of gross receipts as profit. This avoids maintaining detailed books of accounts.
Should I file ITR-3 or ITR-4?
If turnover is below ₹2 crore and you want simpler filing, choose ITR-4. If you maintain regular accounts or turnover exceeds ₹2 crore, file ITR-3. Our CA will advise the best option.
When is tax audit required?
Tax audit under Section 44AB is required if business turnover exceeds ₹1 crore (₹10 crore for digital transactions) or if profit is declared below presumptive rate.