banner_ad

Advance received was wrongly considered as Income in ITR

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 September 2020 Dear Sir/Mam,
Please guide on Following Case.
In FY 2018-19, Mr. X wrongly considered advance received as Income in ITR. And claimed full amount of TDS in FY 2018-19.
Please guide what he can do in the ITR of FY 2019-20. Bills against advance has been raised in FY 2019-20. Should he deduct advance from Total turnover in FY 2019-20 ?
Please guide.
Profile Image

CA PARTH SHAH

Profile Image

CA PARTH SHAH (Expert)
20 September 2020 Revise ITR of FY 18-19 by correcting the income and also reduce credit taken against it. You need to do it before 30th Sept 2020.

In FY 19-20, you can show the income properly and also claim the credit corresponding to that income in the ITR.
Profile Image

Deepak Rawat

Profile Image

Deepak Rawat (Querist)
20 September 2020 Thank U Sir. But there was refund and the same has been issued by IT Department.
What will be it's effect ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 24 April 2026
Article

Rohit Doshi And Associates

Pune

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details