Room cancellation income


(Querist)
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 (Expert)
27 August 2014
it will be taxable under income from other source

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

Rupesh Jain (Expert)


Click to Talk 27 August 2014
ITs under other operating income.


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