It is basically a form of Income Tax Return and is for the taxpayers who have selected a presumptive scheme of income. The ITR 4 Form is for the taxpayers who have opted for the presumptive income scheme as per Section 44AD, Section 44ADA, and Section 44AE of the Income Tax Act. This form is also called Sugam form and is mandatory to be filled by taxpayers eligible for it. This is, however, subject to the business turnover limit of INR 2 crores, exceeding which the taxpayer would be required to file ITR-3. Presumptive Taxation scheme is a scheme that exempts the small taxpayers from maintenance of books of accounts.