Itr for proprietorship business and export of goods

I am individual and I want to sale products on ebay.com (International Website). I purchase products from local market and sell it to on ebay. It will be treated as Retail Export. I will not sale any piece in India.
Kindly note payment will come through Paypal to Bank account where paypal charge their service charge. and then transferred to my bank account. 

1. What are requirement to start this business ? like GST, VAT, TIn, IEC. for proprietorship.

2. Which ITR form will be applicable if I start this business also recieve salary from a company where no TDS deducted currently ?

3. Can I fill ITR 4 Sugam as presumptive Income declared at =8% from business ? If yes then waht is the nature of business in ITR4s.

 

Thanks

Replies (12)

1. Depends upon the contract with E-bay. They provide all the details.

2. If you get just commission, ITR4 Sugam not applicable. Regular business with books to be maintained.

3. In case you receive money directly, and E-bay take away its commission, presumptive income can be declared.

4. If you can, wait till June end, only VAT registration will be enough, rather than ST & VAT

1. Ebay asking for business name, iec code and current account. 2. Ebay sends money to paypal in USD once goods sold and then paypal transfer amount after deduction of their charges. Ebay raising invoice in indian rupees on monthly basis for their commission and charge then we need to pay against that invoice to ebay india. What about the itr now?

Yes, in that case if turnover below 2 crs. in a financial year, income can be assessed under 44AD

But sir, this income from outside india, isn't it? So itr 4 sugam cant be apply. As per the instruction of income tax website.

"But sir, this income from outside india, isn't it? "

There is very fine difference between Income from outside india, and Income accrued outside India. Export earning by resident Indian, received in India is income accrued in India.

Ref: https://blog.hrblock.in/tax-planning/taxability-income-earned-india-vs-income-earned-abroad/

I read the article shared by you. Now coming to the last point what section i have to choose in itr 4 sugam if i recieved money from google adsense and ebay export. I mean section 44ad or 44ada ? I am salaried also so what is the nature business or profession?
Both of the income can be clubbed in sec 44ad in itr 4 sugam? I am confuse because i think one is business and one is profession. But both work i am doing in part time not full time.

If it can not be clubbed in 44ad then can i use one is in 44ad and another one is in 44ada. Basiclly can anyone use both of the section.

"Basically can anyone use both of the section."

Yes. One single form ITR4 (sugam) can be filed for all the 3 income as Salary, Business u/s. 44AD & Profession u/s. 44ADA
 

There is no need to maintain books, profit & loss statements or audits as per income tax form itr 4s. May income tax ask for purchase record and any other expenses because i am not maintainig.

A Big NO  

Hello,

As per ITR 4 Sugam its mentioned that one can not file in ITR

(k) Any resident having income from any source outside India. 

However - Google Adsense income is sent by Google Singapore as per payment receipt in US Dollar, then how can ITR 4 Sugam be filled for this
 

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