CASH FLOW STATEMENT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2010
Can anyone please tell me that how will Refund of Advance tax treated in cash flow statement??
Aditya Maheshwari
(Expert)
30 April 2010
It will be reduced from Taxes Paid / Received and would be shown as inflow.
30 April 2010
Yes it will be shown as an inflow...
Income from operation....
less: tax paid
Add: tax refund.
Income from operation....
less: tax paid
Add: tax refund.
Aditya Maheshwari
(Expert)
30 April 2010
Also visit this link where a similar query has been solved
https://www.caclubindia.com/forum/accounting-standard-query-80792.asp
https://www.caclubindia.com/forum/accounting-standard-query-80792.asp
CMA Ramesh Krishnan
(Expert)
30 April 2010
It can be classifed as Cash from Operating activities
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