Income tax refund
This query is : Resolved
04 January 2016
Pls advise, what entry need to be passed on receipt of Income tax Refund for F.Y.13-14. Kindly indicate the head of accounts.
Thanks and regards
Gurvinder Singh
Thanks and regards
Gurvinder Singh
05 January 2016
Debit Bank, Credit Interest on TDS (Income); Credit the respective TDS (Asset) for the year; debit the Respective Tax Liability for the year (Liability)
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