Form 4 – Frequently Asked Questions

Income attributable to assets located in India under section 9(10)(a) of the Act

Name of form as per I.T. Rules, 1962	Form 3CT	Name of form as per I.T. Rules, 2026	4
Corresponding section of I.T. Act, 1961	9(1)	Corresponding section of I.T. Act, 2025	9(10)
Corresponding Rule of I.T. Rules, 1962	11UC	Corresponding Rule of I.T. Rules, 2026	11

1. What is Form 4?

Ans: Form 4 is report by Accountant regarding the calculation of income attributable to transfer of assets located in India under section 9(9) of the Income-tax Act, 2025. This form is prescribed under Rule 11 of Income-tax Rules, 2026.

2: Who should file Form 4?

Ans: Form 4 can be filed by Accountant which the taxpayer has appointed for this purpose. The taxpayer is one who has earned income attributable to transfer of assets located in India.

3: Is Form 4 mandatory?

Ans: Form 4 is mandatory if the income is chargeable to tax in India.

4: What is the time limit for filing Form 4?

Ans: Form 4 must be filed along with the Return of Income and the due date for filing of return of income applies to this Form too depending on the taxpayer profile.

5: How many times can Form 4 be filed in a year?

Ans: Form 4 is be filed once in a tax year along with the Return of Income.

6: What documents are required to file Form 4?

Ans: Following documents may be required for filing Form 4:

o Communication addresses, emails, contact number

o Valuation report of the valuation of the assets

o Financial statements of the taxpayer

o Documents related to the sale of asset/s

7: Can I edit Form 4 after submission?

Ans: No. Once Form 4 is submitted and acknowledgment is generated, it cannot be edited. Ensure all details are correct before submission. Form 4 cannot be refiled without revised Return of Income.

8: Do I need to attach proof of tax payment?

Ans: The form does not require proof of tax payments. However, where taxable income arises, for processing the return of income filed in this respect, proof of tax and interest payment (challans/BSR codes) is mandatory.

9: While filling personal details, can I leave Aadhaar or mobile number blank?

Ans: • Aadhaar is no longer required in the personal details.

• Mobile number ensures faster communication and verification; it is recommended to provide it.

10: What if I do not have a PAN?

Ans: Form 4 cannot be submitted without a valid PAN.

11: Can Form 4 be filed offline?

Ans: No. Form 4 can only be submitted online through the Income Tax e-Filing portal.

12. What is the process flow of filing Form 4?

Ans: The process flow for filing Form 4 includes following steps

1. Firm/Accountant has to register on the UDIN portal to generate UDIN as per the process of the ICAI.

2. The Form is to be filed electronically through the e-filing portal of the Income Tax Department by the accountant after generation of Unique Document Identification Number.

3. The statement should be digitally signed by the Accountant.

13: Why is Form 4 important?

Ans: Filing Form 4 enables Assessing Officer to understand the computation of income on transfer of assets and would thus enable easier processing and scrutiny of the Return of Income.

Failure to file Form 4 can lead to proceedings for assessment of income under the Income-tax Act, 2025.

Income attributable to transfer of assets in India requires an accountant's report filed online with UDIN and a valid PAN. Form 4 is an accountant's report for computing income attributable to transfer of assets located in India, to be filed once in a tax year along with the return of income through the e-filing portal with a valid PAN and UDIN. The form requires supporting valuation, financial, and sale-related documents, cannot be edited after submission, and does not require proof of tax payment at filing, though payment evidence may be needed for return processing.