income tax refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 August 2010
I have received 2 income tax refunds in one it is excess provision and in other it is short provision.
Should both be netted of and one figure will be part of p&L item or both shold be shown seperately
Should both be netted of and one figure will be part of p&L item or both shold be shown seperately
CA Sanat Pyne
(Expert)
25 August 2010
https://www.caclubindia.com/experts/income-tax-refund-468515.asp
FOLLOW THE ABOVE PROCEDURE YEAR TO YEAR WISE.
FOLLOW THE ABOVE PROCEDURE YEAR TO YEAR WISE.
Message likes :
1 times
25 August 2010
If the two refunds are meant for two separate years, then accounting should be done separately on yearly basis.
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