ITR for xerox and online shop

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This discussion addresses how to file Income Tax Returns (ITR) for a business involving Xerox services and online sales, particularly when using online wallet services for money transfers. The user is advised to file ITR 4 and declare income under presumptive assessment, including commission income received from mobile/DTH recharges under Schedule OS. Details of turnover and expenses maintained in Excel can be used for this purpose.

Reena

Reena (Querist)

31 July 2023 Dear All

We are running Xerox & online work business. in our business we are doing money transfer through star communication online source wallet... how should i file ITR,

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

31 July 2023 File ITR 3.

Reena

Reena (Querist)

31 July 2023 Sir should i file along with balance sheet, profit and loss account / Income and expenditure statement

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

31 July 2023 What is your total turnover? Whether you receive any commission income?

Reena

Reena (Querist)

31 July 2023 Commission received for Mobile/DTH rechare , in AIS Rs. 16,464/- reported as commission and tds deducted with section 194H. we received charges total 6Lakhs and expenses rs. 2Lakhs, this details we maintained in excel sir.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

31 July 2023 For simplicity you may file ITR 4 and declare the income under presumptive assessment.
The commission received can be declared under Schedule OS.

Reena

Reena (Querist)

31 July 2023 in 44AD am i right sir

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

31 July 2023 Yes, correct.

Reena

Reena (Querist)

31 July 2023 Thank you so much sir

Dhirajlal Rambhia

Dhirajlal Rambhia