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<h1>Presumptive Taxation: ITR 4 Sugam prescribes eligibility, computation under presumptive business provisions, reporting schedules and verification requirements.</h1> The document prescribes the ITR 4 Sugam return process for eligible resident Individuals, HUFs and Firms (other than LLPs) reporting business and professional income under presumptive taxation, together with salary, one house property and specified other incomes; it defines eligibility and exclusions, enumerates required schedules for presumptive income computation, deductions, tax computation and reconciliation of taxes paid (advance, self assessment, TDS, TCS), and specifies verification, filing modes and supporting disclosure of bank and financial particulars.
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