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Income tax refund

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2010 Our company received income tax refund of for FY 06-07 on 20th February 2010.TDS account of FY 06-07 has balance of 25,000/-,Provsion of TAx for that year is Rs.6,000/-.actual refund for the same should have been 19000/-.But we received Rs. 20,000/-.In computation of income TDs accounted is 27000 and provision in computation is 5000.
Kindly let me know what will be accounting entries for same.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 September 2010 Balance need to be shown as Interest
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