Gross receipts refer to the total revenue or income received by a business or individual from all sources during an accounting or tax period — before deducting any business expenses, returns, allowances, discounts, or cost of goods sold. Gross receipts represent the top-line, pre-deduction total of all amounts received and is a key figure in tax compliance and financial reporting, particularly for businesses computing tax under presumptive taxation schemes. In India's income tax framework, gross receipts are the basis for determining eligibility for presumptive taxation under Section 44AD (for businesses — turnover up to ₹3 crore) and Section 44ADA (for professionals — gross receipts up to ₹75 lakh), where a prescribed percentage of gross receipts is deemed to be profit without requiring detailed expense accounting. For investors on Ventura Securities analysing companies, gross receipts (typically reported as gross revenue or total income) provide the most comprehensive top-line measure of business scale, before adjustments for discounts, returns, and indirect taxes.
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