In profit and loss account , sale of goods amount without gst is 4500000 and withgst 5310000. so query is what amount will take for showing sale of goods amount in profit and loss account in income tax return?
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Income tax return query
Replies (6)
450000
because of accounting entry
because of accounting entry
Its excluding tax amount that is 45l
Thank you
You can also write to me at sthayin @ gmail for further assistance
Thank you
You can also write to me at sthayin @ gmail for further assistance
ITR 3 SPECIFY THE FORMAT.
SALE IS ALWAYS DISCLOSED ANY TAXES.
SALE IS ALWAYS DISCLOSED ANY TAXES.
SaLe alway disclosed any taxes meaning show 5310000?
@ deepak
sorry sale is always disclosed net of taxes
in Returns except as otherwise stated.
sorry sale is always disclosed net of taxes
in Returns except as otherwise stated.
For ITR 3 Sales amount is without GST (that is net of GST) Rs. 45 lakhs
For ITR 4 - under 44AD -- Sales (Turnover) amount is Gross sales that is with GST - Rs 53.10 lakhs
For ITR 4 - under 44AD -- Sales (Turnover) amount is Gross sales that is with GST - Rs 53.10 lakhs
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