Income Tax Refund
This query is : Resolved
25 September 2016
Dear Experts,
Could you please tell me that if company received Income Tax Refunr for F.y 2014-15 in the year 2015-16. what entry will be made in the company books ? Assessment has not been done for the year 2014-15 ?
26 September 2016
Dear atul,
Book it as indirect income in the books of accounts in the year when the refund is received and reduce the tds receivable
26 September 2016
Are you in a position to tell....what entry the company had passed in its books of accounts for the financial year 2014-15, for the said income tax paid??????(TDS or otherwise)
Also let me know the provision of income tax, if any, made by the company in the same year???????
Also let me know the provision of income tax, if any, made by the company in the same year???????
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