Whether refund should in balance sheet or not?

 YOUR QUESTION IS NOT CLEAR,

Clear ur ques.

dnt show it  anywhere unless u recieve refund order from IT dept. bcz u have to follow realisation concept and conservatism concept.. It says dnt recognize any unrealised gain or income bt only record future losses. hence nothing is to be done unless its confirmed to be realised.

 Unless its sure to arise u cant recognize it as income...AS 9 revenue recognition also can be looked into i guess along wit conservatism concept...And as its our income tax dept u can never know !!!!!They might have a surprise waiting for u... :-)

question is very clear,

according to my self assessment there is refundable amount to me, should i have to show this amount in my balance sheet or not?

You need not to show it as refund. But if you have refund on self assessment, then it means that your tax credit is more than tax liability. So, you can do one thing, create a provision for taxation and it shall be grouped under the head "Provisions". The taxes that you paid in advance and the TDS that was deducted from your income shall be shown under the appropriate head in Current Assets on Assets / Application of Funds side. In the year when the assessment is completed and you receive the refund, close these open accounts and tax provision against each other by accounting the difference to bank account as refund received. In case the refund amount differs from your estimation at the time of self assessment, then pass the difference through Profit & Loss account or Capital Account. if you need i can give you the accounting entries for the same also. But i hope its clear for you now.