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This query is : Resolved 

As per New updation in Income Tax, T/O Showing in 26AS, this is acceptable. but i have a query related to this changes one of my client running his Grocery Business have O/D a/c doing transaction (B-C) deposited cash in OD a/c 45 lakh rs. during the f.y.19-20. and 26AS showing T/O on taxable amount which is 28 lakh rs.
1) Now, i've a confusion related to Turnover Showing on income tax which amount should i show as T/O in IT ?
2) He deposited cash 45 lakh in O/D a/c but amount was related to business but it is showing in SFT-004 CASH DEPOSITED (OTHER THAN CURRENT A/C). But this Amount completely business transaction.
sir please tell me about this query and thank you so much in Advance.......
for your valuable help.....

Show 45 lacs turnover in income tax. Exempted turnover may be there in grocery business.

thank you so much sir for your best Expertise,
But one more thing i want to ask you in this summary, as per 26AS T/O in GSTR-3B 28 Lakh Rs.
clearly showing as T/O.
So In other prop. Business cases this 26AS t/o should i take in Income tax or i can show more than it......?

You can show more than this, no problem. Ensure you complied with GST rules and have reconciliation of GST turnover and IT turnover.

Ok thank you so much sir.....
in short i can show more than this turnover which is mention in GSTR-3B of 26as.
One more time thanks a lot sir......

You are welcome.............

Bajaj Finserv

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