ITR-4 Sugam FY26: Are You Filing It Right?

The Income Tax Department has released ITR forms for FY 2025-26. If you run a small business or freelance, ITR-4 Sugam is likely your form. Here's what you must know before the July 31 deadline.

Here's what happened: ITR-1 and ITR-4 forms for Assessment Year 2026-27 (FY 2025-26) have been officially notified by the Income Tax Department.. The offline Excel Utility for ITR-4 Sugam is now live on the income tax e-filing portal, allowing taxpayers to prepare returns without internet.. The last date to file without penalty is 31 July 2026 — missing it means a late fee of up to ₹5,000 under Section 234F..

What you should do: Check if ITR-4 Sugam applies to you — it is for individuals, HUFs, and firms (not LLPs) with business or professional income up to ₹50 lakh under presumptive taxation (Section 44AD, 44ADA, or 44AE).. Download the Excel Utility from incometax.gov.in right now and start entering your income, TDS, and deduction details offline to avoid last-minute portal crashes in July.. Gather Form 26AS, AIS (Annual Information Statement), and all TDS certificates before you sit to file — mismatches between these and your return can trigger notices..

If your turnover is under ₹50 lakh and you declare at least 8% (or 6% for digital receipts) as profit under Section 44AD, you skip maintaining detailed books of accounts entirely — a massive time saver for small business owners.