Refund from respective authorities is not either income or expense of business & profession so why its included in credit side of profit and loss a/c as per form 3CD point 13 sub clause (b)
Madhusudan Kabra
(knowledge seeker)
(1779 Points)
Replied 09 September 2009
form 3CD point 13 sub clause (b) "amount of any refund not credited to P &L only "
Read this clause care fully
Madhusudan Kabra
MAYANK GUGLANI
(CA )
(124 Points)
Replied 09 September 2009
i have readed that point several times and it states that IF THIS INCOME IS NOT CREDITED TO P/L A/c THEN SHOW IT HERE
Madhusudan Kabra
(knowledge seeker)
(1779 Points)
Replied 10 September 2009
this type of recipet is not credited in P& \L a/c so that is why we show it here ......
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