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Room cancellation income

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govind (Querist)
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27 August 2014 Dear sir, advance received and then cancelled due to party not visited on booking date. so which head i wil show this income?

CA Tejas Mistry

CA Tejas Mistry (Expert)
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27 August 2014 it will be taxable under income from other source

CA Kishore Tallam

CA Kishore Tallam (Expert)
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27 August 2014 GL name can be Room Cancellation Income. It can be disclosed as "Other Operating Income" in "Revenue from Operations".

Rupesh Jain

Rupesh Jain (Expert)
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27 August 2014 ITs under other operating income.

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