Refund
This query is : Open
Amandeep Singh
(Querist)
03 October 2017
Dear sir
I have received 15300/- income tax refund in my account
please suggest how i can adjust the entry
Previous year when we finalized the balance sheet i was debite whole income tax to capital account
I have received 15300/- income tax refund in my account
please suggest how i can adjust the entry
Previous year when we finalized the balance sheet i was debite whole income tax to capital account
Amol S Joglekar
(Expert)
03 October 2017
now you can credit this amount to capital account.
Message likes :
1 times
03 October 2017
Yes... I agreed to Mr Amol S Joglekar Sir.,
@Amandeep Singh.,
Yes. You can credit it to Capital account...
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
03 October 2017
Credit the amt so received in your capital account & show the interest portion of it in income from other sources.
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