Dear friends and respected seniors,
We had taken mtnl landline connection many years back and at that time they had taken security deposit of Rs. 3000. In FY 18-19 we closed MTNL landline connection and after two months we got the check of Rs 2216. ( Rs 3000 minus last bill of Rs 784 ).
Now my query is how will this Rs 2216 be treated ? Will it be added to income ?
Awaiting your reply.
Thank you.
As such its advance received back, but it seems the deposit paid earlier was debited to P&L acc. and hence no such provision in BS.
If that be true, this refund of Rs. 3000/- will be treated as Income of current FY.
Thank you Sir for your quick and accurate reply.
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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R P S K & Associates
Nashik
CA Inter
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SSGS and Associates
Chennai
CA Inter
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Shyam Joshi & Associates
Pune
B.Com
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CAclubindia
