EXCESS AMOUNT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 October 2010
DEAR SIR
I MAKE INVOICE TO ONE CUSTOMER RS.1000/- AND THE CUSTOMER PAID TO ME RS.1100/- (ONLY ONE TRANSACTION IN THIS A/C,AND I DON'T WANT RETURN THIS AMT) HOW I WILL ADJUST THIS AMOUNT OF RS.100/- WHAT IS ENTRY PLEASE HELP ME
I MAKE INVOICE TO ONE CUSTOMER RS.1000/- AND THE CUSTOMER PAID TO ME RS.1100/- (ONLY ONE TRANSACTION IN THIS A/C,AND I DON'T WANT RETURN THIS AMT) HOW I WILL ADJUST THIS AMOUNT OF RS.100/- WHAT IS ENTRY PLEASE HELP ME
CA SIDDHARTH MEHRA
(Expert)
24 October 2010
You may transfer the said Rs 100/- to Misc income. Offer this income to tax. There appears to be no apparent problem in such transfer.
Message likes :
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nilesh kshirsagar
(Expert)
25 October 2010
ya agree with expert
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