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Gross Turnover or Gross Receipts in ITR 4

Ramit (Accountant) (121 Points)

16 July 2023

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 ?

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160342 Points)
Replied 16 July 2023

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

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

Ramit (Accountant) (121 Points)
Replied 16 July 2023

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

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160342 Points)
Replied 16 July 2023

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

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

Ramit (Accountant) (121 Points)
Replied 16 July 2023

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?