I am having gst number for my business.
Can I go for presumptive income scheme in Income tax return filing.......????
Will it be preferable, there is no huge transaction till now ....
5 Replies
A.MISHRA
(professional)
(91 Points)
Replied 14 July 2018
it's trading business . U can assume retailer.
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 14 July 2018
Yes, you can file ITR 4 if nature of business is not out of ambit of section 44ad presumptive taxation scheme.
A.MISHRA
(professional)
(91 Points)
Replied 14 July 2018
Sir I need some more attention of yours...
Date of registration under gst was in January 18, before I were out of the Indirect tax ambit, so there were transaction before the registration.....
In this case turnover that i will report to Income tax dept. Will definantly differ from gst records...is there any chance of receving notice from these two tax authorities..??????
Please sir clarify the above
Date of registration under gst was in January 18, before I were out of the Indirect tax ambit, so there were transaction before the registration.....
In this case turnover that i will report to Income tax dept. Will definantly differ from gst records...is there any chance of receving notice from these two tax authorities..??????
Please sir clarify the above
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 14 July 2018
turnover will definitely differ because you have taken Gst registration number after jan 18,You will not received any notice from both department.
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