Tds

This query is : Resolved 
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(Querist)
15 October 2013 IN CASE OF TDS DETUCTED OF NRI EMPLOYEE,
IF REFUND COME
AND REFUND OF THAT SEND TO EMPLOYER(WHEN EMPLOYEE'S BANK A/C NOT FOUND), BCOZ ALL TAX BORN BY HIM.
THEN IS IT CONSIDER HIS INCOME??????

WHAT WILL BE ACCOUNTING TREATMENT???
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
15 October 2013 It refund is not income from other source as merely excess tax paid earlier is refunded.

A temp A/c should be opened and when this refund is given back to employeeit must be closed with NIL balance.
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