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Vinod Kapoor (Taxpayer)     24 July 2021

Advance Recd in FY 2020-21 against property actually sold in FY 2021-22



I have sold a house for a Total Consideration of Rs 8,25,000 and have received an advance of Rs 82,500(50,000 cash on 18.02.2021and 32500 through cheque on 20.02.2021)i.e. in F.Y.2020-21.


But the remaining balance payment  of Rs 742,500 has been received through Demand Draft at the time of actual registry on 14.07.202121(i.e. in F.Y.2021-22).


While filling ITR-2 for F.Y.2020-21;whether the advance of Rs 82,500 received in F.Y. 2020-21 is to be reported?


If yes, where in ITR-2 ?


Can this Total Amount of 8,25,000 (82500+742500=825000)be reported together in ITR-2 of F.Y. 2021-22 next year ?



Vinod Kapoor

 6 Replies

Anoop srivastava

Anoop srivastava   24 July 2021

No not required
1 Like

Sourav (Student)     24 July 2021

Show it under other sources
Raj C Doshi

Raj C Doshi (Practising CA)     24 July 2021

Nothing to be reported in fy 2021. full amount to be shown in fy 2122.
1 Like

Sourav (Student)     24 July 2021

If reporting required in Fy 2021 then where such income can be shown??
1 Like
Anoop srivastava

Anoop srivastava   24 July 2021

In ITR only income has to be shown . This is the advance payment
1 Like

Sourav (Student)     24 July 2021

Thanks for the information
1 Like

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