itr4 section 44ad for share traders

525 views 3 replies

Alcester Mac Naug

3 Points Joined October 2017

hi

there is a glitch in itr 4 with respect to requirements of GST number and turnover.
As you all may be aware that get is not payable by a share trader on his trading turnover and is only charges by brokers as expenses.

itr 4 does not allow filing without gst. so how does a share broker file his return under 44 ad . Is this a forced registration under gst indirectly . but how does it help the govt when the same is not applicable to share traders.

is there a way to communicate this to IT authorities. Though I tried with calling help line, they provide only their rhetoric that it only available for less than 20 lacs turnover. this is not right.

Replies (3)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210453 Points Joined July 2016

Though defect in utility but till its rectified by ITD ...........Let me tell you my working.......

GST no...... (accepted for 30 lakhs TO) as "00PAN000' AND Turnover figure '0'...

ITR filed..... & E-Verified....

(PAN here is PAN no. of the assessee)

Alcester Mac Naug

3 Points Joined October 2017

yes i got it . but wont it lead to defective return notice from IT office for false info.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210453 Points Joined July 2016

Its not false info. Info is correct that under GST act, the turnover declared is '0'.

For wrong GSTIN....... I am not liable for registration under the act in any state... so first two '00" for state codes.......

There is no under reporting under any act.........

As per IT act, there is no clause or rule to mandatorily declare GSTIN, even if the assessee may not be liable for registration...... So, let the defective notice be raised......... It will be proof of efficiency with which our department works......