Suppose I receive Rs 43000 as IT Refund for the FY 2012-13 in Dec 2013 by ECS
What will be Entry in books ?
Suppose my refundable was 42000 as per Balance Sheet of 2012-13
Gross Tax was 56000
Less : TDS Recvable was (-) 73000
Advance Tax (-) 25000
So TDS refundable balance will be trfd to capital and advance tax balance 25k should also be trfrd to capital a/c ?
T R SOOD & CO
New Delhi
CA Inter
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