Income Tax Refund

This query is : Resolved 

31 December 2010 received payment of income tax refund for the f.y. 2009-2010 under which head accounted?

As Indirect income or capital a/c??
Business status is Partnership Firm????

Urgent please..thanks in advance...

31 December 2010 Interest on refund will be accounted as income.

Income Tax amount will be adjusted against provision created.

31 December 2010 Thank you so much for your quick and valued response.....

please clear me that if party had not made tax provision than other than interest income tax refund where accounted???


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