Please suggest me a adjustment entry for IT refund in company books where there is no prepaid tax receivable in balance sheet?? Last year by mistake i closed TDS & Advance Tax, and nothing kept for refund adjustment.
Thank you in advance.
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Accounting adjustment entry for income tax refund in a company books
Replies (2)
bank AC Dr
to PL
to PL
Thank you..
But i am not intending to show the same in profit and loss account, I need a entry to close the IT refund..
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