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Refund

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(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
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Amol S Joglekar

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Amol S Joglekar (Expert)
03 October 2017 now you can credit this amount to capital account.
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RAJA P M

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RAJA P M (Expert)
03 October 2017 Yes... I agreed to Mr Amol S Joglekar Sir., @Amandeep Singh., Yes. You can credit it to Capital account...
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CA Rashmi Gandhi

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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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