Income tax

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101 Points Posted on 25 December 2020
Can I file an income tax return showing more than the sales amount in GST?
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On 25 December 2020 at 22:26 Report
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This discussion explores whether it's advisable to declare a higher income in your income tax return than your GST turnover. While technically possible, it's generally advised against as the tax department shares data and discrepancies can lead to future issues. It's suggested to declare income from other sources like salary or property instead of inflating business sales.

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student
621 Points Posted on 25 December 2020
As per my opinion.

it will create problems in future as department share data


try to avoid.

do not show business income more than gst.


still want to show higher income in itr. u can show salary, house property (if), Other sources
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On 25 December 2020 at 23:30
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Accountant
4533 Points Posted on 26 December 2020
Yes you can file return showing sells more than your GST turnover but it will lead to intimation from income tax department
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On 26 December 2020 at 00:05

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