Refund from irctc

Mohammed Shahid Rahman (Partner) (143 Points)

04 April 2016  

Hi,

I am maintaining my personal account. In current year I have lots of travel tickets done through IRCTC and in Tally I have put it under "Travelling Expenses" under INDIRECT Expenses head in Tally. For some reason I had to cancel the ticket and for that I have created "Refund from IRCTC" and put it under INDIRECT Income head under tally. I would like to know whether the above treatment is correct or not.

If not then please give an example. As I am new in accountancy I wont be able to undestand without example.

Thanks and regards