Form ITR – 4 (SUGAM) cannot be used by an individual/HUF:
• Whose total income for the year includes income from more than one house property.
• Whose total income for the year includes income from winnings from lottery or income from race horses.
• Whose total income for the year includes income chargeable to tax under the head “Capital Gains”.
• Whose total Income for the year includes income taxable under section 115BBDA.
• Whose total income for the year includes income of the nature referred to in section 115BBE.
• Any resident having income from any source outside India.
• Whose total income for the year includes agricultural income of more than Rs. 5,000.
• Whose total income for the year includes income from speculative business and other special incomes.
• Whose total income for the year includes income from agency business or income in the nature of commission or brokerage.
• Who claims relief under section 90, 90A and/or section 91
• Who is a resident and ordinarily resident and has any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India.
In case of a taxpayer who is engaged in any business eligible for the presumptive taxation scheme of section 44AD or section 44AE or section 44ADAbut he does not opt for the presumptive taxation scheme, then such a taxpayer has to maintain the books of account of the business as per the provisions of section 44AA and has to get these accounts audited. In such a case he cannot use ITR 4.
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