Hello ,
I have an IT data analytics service business. Gross service value was 12 lacs for FY2016-17. Service tax also paid for the same.
Previous three years my Gross Receipt was perfectly equal to amount as per ST-3.
And both the dept cross check the amounts. Have received a communication regarding mismatch once.
I purchased Indica for additional income from uber. Received 1 lac online payment and ₹ 90,000 cash.
Should this 190,000 also be a part of the Gross Receipt in the ITR. Only 12 lacs reflect in the Service Tax Returns perfectly.
So Gross Receipts = 12 lacs or 13,90,000 ?
Or should 190,000 be in 'income from other sources'. I dont think so though. It is meant for FD interest etc right ?
In any case I intend to declare the Net Presumptive income as 6 Lacs irrespective of Gross Receipt.
Also I know PPF interest income is exempt from income tax. But is this amount to be shown in the ITR.
First show and claim deduction. Or just forget about it.