Treatment of Wrong/Double Payment to Treassury
This query is : Resolved
10 March 2022
Sir,
During the financial year 2020-21, I have paid Rs. 225000 as registration charges in respect of land through online mode from the company bank account. the said amount was debited from the bank account, but was not received by the treasury. So as per the discussion with the concerned official it is being said that in order to complete the land registration formality fresh payment should be initiated and the amount already paid will be refunded later. For completing the registration, I have made fresh payment. But the said amount was not refunded till the close of the financial year 2020-21 (ie, on 31-03-2021) and was refunded on 16-04-2021. Confirm under which ledger payment of Rs. 225000 should be accounted in the balance sheet which was refunded only during the succeeding financial year.
During the financial year 2020-21, I have paid Rs. 225000 as registration charges in respect of land through online mode from the company bank account. the said amount was debited from the bank account, but was not received by the treasury. So as per the discussion with the concerned official it is being said that in order to complete the land registration formality fresh payment should be initiated and the amount already paid will be refunded later. For completing the registration, I have made fresh payment. But the said amount was not refunded till the close of the financial year 2020-21 (ie, on 31-03-2021) and was refunded on 16-04-2021. Confirm under which ledger payment of Rs. 225000 should be accounted in the balance sheet which was refunded only during the succeeding financial year.
CA R SEETHARAMAN
(Expert)
10 March 2022
Keep it under refundable advance.
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