ITR-4 presumptive income

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Sir,
i am filing itr-4, if a have two business one is registered under gst and other is not registered under gst. gst business turnover is rs. 18,00,000 and non-gst turnover is rs. 12,00,000 say job work. my gstr-3b turnover is matched from 26as and displaying rs. 18,00,000. So i want to ask that rs. 12,00,000 will i have to show in itr-4.
thanks
Replies (11)
First of all u r doing business not exclusively for goods So applicable aggregate turnover as per Gst for u is Rs 20 lakhs.
Job work is considered to be a service under GST on which applicable rate is 18% You are liable to pay GST but you didn't registered ur business in GST which is violation of GST laws.
Further for the purpose of Income Tax u r oting presumptive scheme under section 44AD in which u are required to report gross turnover from business
U r require to report turnover details in ITR 4 business wise provided ur aggregate turnover does not exceed the prescribed limit.
The consequence of mismatching turnover from 26AS may arise and the result will u may get notice from GST departments or even both.It should be noted that GST is on the taxpayer basis unless the taxpayer is not taking separate registration for separate line of business.
So u have made a default under GST which will lead to scrutiny under GST.
Sir i am asking in other words that my P&L account shows Sales rs. 25,00,000 and job work rs. 8,00,000 in credit side. sale data filed in gstr-3b rs. 25,00,000. Now in itr-4 i am taking rs. 25,00,000 in 6% turnover. where will be show rs. 8,00,000 in itr-4.
It means u r doing two business...show rs 8 lac in separate line in Itr4. u can add another business too in ITR 4
Sir i have only one business and rs. 8,00,000 added by me in credit side for the purpose of net profit otherwise it shows net loss. Now rs. will be added in itr-4 8% turnover column?
Yes in 8%
But abhishek sir main is baat ko le kar confuse hu pehle to main 8% main kar leta tha lekin ab aisa karne se gst turnover mismatched to nahi hoga kyunki is it right or wrong that 6%+8% both turnover will be equal to gst turnover.
my 6% turnover = 25,00,000
8% turnover = 8,00,000
hence total turnover = 33,00,000
but gst turnover in gstr-3b = 25,00,000
please clarify me sir
it will be very thanks to you sir.
I was try to same thing in my first comment. If u r showing 8 lac as job worker income to avoid net losses in books
The correct procedure should be U need to show 8 lac in gst also on which 18% rate is applicable and after that u can show in ITR 4
if u show in ITR 4 there will be definitely mismatch of turnover in Income tax and GST and there might be chances of getting notice from GST department if they verify with income tax turnover.
Sir there is any method to show rs. 8 lac in itr-4 other than job work to increase net profit for any name.
For that u need to contact me
Ok thanks sir...

You can also read all about Presumptive Taxation in this article: Introduction to Presumptive Taxation
 


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