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Refund the income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 July 2014 Good morning for all,



let me know the treatment of Income tax refund of previous year in the current year.
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CA Shashank Jain

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CA Shashank Jain (Expert)
18 July 2014 Bank A/c Dr.(Amt of refund received)
To IT Refund Receivable A/c (Amt shown in B/s)
To Interest on IT refund recd (income from other sources)

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