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income tax refund

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YASIR (Querist)
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01 September 2016 what is the treatment of refund of income tax of a private Ltd co. in tally

ACA Anurag (Expert)
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01 September 2016 Dear Yasir, Refund of income tax will be adjusted against tds receivable and interest part will be booked as indirect income. Hope your query is resolved Kindly like if my response has helped you

Amol S Joglekar

Amol S Joglekar (Expert)
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01 September 2016 debit Bank
credit income tax receivable
(The difference,if any, in income tax receivable account be adjusted to appropriation account)

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