Wrong bill deposited

This query is : Resolved

Ashim kr Ray (Querist)
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25 September 2019 Sir,

A department has wrongly deposited a bill amount Rs 25lac in March 19. now the file has to be audited how to dealt with this 25lac as this not my income and i am not going to pay tax on this amount.

Plz guide what will be the treatment in this case.

RAJA P M

RAJA P M (Expert)
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25 September 2019 Your query is not cleared...

Ashim kr Ray

Ashim kr Ray (Querist)
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25 September 2019 Sir my query is pdw department has credited a amount of 25lak in my account.But the amount has been credited by mistake by department on march 19.Now as this 25lac comes to my account as mistake,i cannot show this in IT Return.
So what treatment can be done .

RAJA P M

RAJA P M (Expert)
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26 September 2019 Are discuss the matter to the dept...?! If Yes and get remedy then Book the amount in the name of PWD dept ledger. Keep it balance. Pay the amount to PWD.

Ashim kr Ray

Ashim kr Ray (Querist)
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26 September 2019 Sir,
amount came in my account in FY 2018-2019. I have return in FY 2019-20, In my bank record transaction has been shown that amount of Rs 25lac has been credited and later has been withdrawl. Now at the time of preparing Trading P& L Account is this amount came,what will be impact in balance sheet.

RAJA P M

RAJA P M (Expert)
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26 September 2019 If You are already discussed the matter to the dept then You will show the amount in current liability.

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Ashim kr Ray

Ashim kr Ray (Querist)
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26 September 2019 Sir,
Whether i have to show this amount in Gross Receipt?

RAJA P M

RAJA P M (Expert)
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26 September 2019 No dear... How is it receipt...? If it's wrongly credited then You just account in current liability and after that repayment then it's going to zero...

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Ashim kr Ray

Ashim kr Ray (Querist)
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27 September 2019 Thank you very much Sir.

RAJA P M

RAJA P M (Expert)
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27 September 2019 You are most welcome dear

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