EASYOFFICE

Income tax refund

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 September 2013 Dear Sir/Mam,

Our company has received Income Tax Refund. Kindly let us know the treatment in Books of Account. Is it Income or Not?
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
25 September 2013 It is not income. it is the excess payment of tax you are getting back. only interest received on refund is the income

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links