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Advance recd in one FY but actual transaction in succeeding FY

Tax queries 217 views 3 replies

Advance recd in one FY but actual transaction in succeeding FY

While filling ITR-2 for FY 2020-21;

How to report Advance Received in FY 2020-21 against property actually sold in in FY 2021-22

Replies (3)
Advance received need not required to show in ITR

ITR - 2 is being filled for FY 2020-21.

How and where to report the figure of Advance Received in FY 2020-21 against property actually sold in in FY 2021-22 ?
 

Not required to show anywhere in FY 2020-21 return.

you have to mention all details in ITR of FY 2021-22 only


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