A proprietorship concern having GST Number no turnover for F.Y. 2020-21, But he has other source of income, so which ITR form he has to be filed?
ABHIJIT MANNA (ACCOUNTANT) (447 Points)
09 September 2021A proprietorship concern having GST Number no turnover for F.Y. 2020-21, But he has other source of income, so which ITR form he has to be filed?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 09 September 2021
If no activity of the business. you can file ITR 1 or 2 as per other satisfying criteria.
ABHIJIT MANNA
(ACCOUNTANT)
(447 Points)
Replied 09 September 2021
But sir, he has GST number, if he shows other income there will be charged GST or not?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 09 September 2021
It it comes under definition of 'SUPPLY' as per GST act, then naturally, GST will be applicable.
ABHIJIT MANNA
(ACCOUNTANT)
(447 Points)
Replied 09 September 2021
That's why I asked you he had nil gst return for F.y. 2020-21 so how he filed his income tax return with other source of income.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 09 September 2021
What is the source of income? If it is bank interest or any other income which do not fall under range of SUPPLY under GST, then there want be GST applicable. Otherwise you may have to declare that supply in GST return itself!!
ABHIJIT MANNA
(ACCOUNTANT)
(447 Points)
Replied 09 September 2021
Sir I can not understand any other income which do not fall under range of SUPPLY under GST means if Rakhi Making charges or handicraft income, it will be under GST or not, then which form he should file. Because he did not show this income in GST return
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 09 September 2021
These business transactions fall under supply category under GST act, may be under NIL rated, so you must revise the GST return first; and declare the turnover.
That turnover should be declared in ITR 3 or ITR 4 as business income; and not under IFOS.
ABHIJIT MANNA
(ACCOUNTANT)
(447 Points)
Replied 09 September 2021
Sir a person can file loss in ITR4 or he has to file ITR3
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 09 September 2021
For any business loss declaration ITR 3 should be filed.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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