banner_ad

Income tax refund

This query is : Resolved 
Profile Image

Profile Image

(Querist)
24 September 2015 Dear Experts, I want to file the return of partnership firm. So my is that the Income tax refund is received during fy 2014-15 of previous years ie 2012-13 also there are some tds receivables entries , during the fy 2014-15 i also paid some advance tax. so my question is that the income tax refund which is received , can we adjusted with tds receivables or not ??? kindly note that i also want to make a provision for the advance tax... so pls provide the journal entries regarding this situation!!!
Profile Image

CA SATBIR SINGH SAINI

Profile Image

CA SATBIR SINGH SAINI (Expert)
03 November 2015 first clear TDS in f.y. 2013-14 or in next
Refund A/c Dr
tAX A/C Dr.
to TDS
(Being tds for 2012-13 is adjusted against tax)

When refund received

Bank A/c Dr
To Refund A/c

Advance Tax A/c Dr.
To Bank A/c



Always make separate ledge for separate FINANCIAL YEAR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details