Adv tax related
This query is : Resolved
11 May 2020
Sir I have paid 3rd installment of Adv tax on 05/11/2019 from my mother's SB ac(1st holder-my mother,2nd holder-myself).How to show the amount in ITR-4 for ay 2020-21?Will it be as income or gift from mother?How to be shown in balance sheet in ITR-4?I file itr-4 under 44ada.Thanks in advance sir.
11 May 2020
You need not have to show any thing. If you further like to show, then you can show as current liabilities to be paid to your mother in succeeding years.
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