Gross Turnover or Gross Receipts in ITR 4

While filing Itr-4, Amount mention in Column Gross turnover or Gross receipts
must match with turnover declared in Form 26 As through GSTR-3B ?
Replies (6)
Quick Summary
This discussion clarifies the distinction between Gross Turnover and Gross Receipts when filing ITR 4. It explains that taxable turnover from GSTR-3B should match the 'TURNOVER' field for businesses, while professional receipts are reported under 'TOTAL RECEIPTS'. The thread also touches upon reporting bank balances, cash in hand, debtors, creditors, and stock, and advises comparing tax regimes for incomes under £2 lakhs.

Whether you are filing it for any business activity or professional?

Why there is difference between form 26AS and GST 3B?

Filing for business
I mean to say that sales from GSTR-3B which is showing in 26 AS that sale need to be mention in gross Turnover or receipts column

For business the sales turnover is to be filled under TURNOVER field.

While for professional receipts, the amount is filled under TOTAL RECEIPTS.

Ok. I also want to know that If my business income is less than 2 lakhs, Should I file itr-4 under new tax regime or continue in old scheme?
It is necessary to show balance with banks in itr-4?
It is mandatory to show cash in hand, debtors, creditors, stock?

1. Check & verify both regimes in tax calculator.

2. No.

3. Yes.

Hi,

Gross Turnover means taxable turnoer as per GSTR3b need to be mentioned in ITR and figures should be same for both

 

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