Income tax refund
This query is : Resolved
09 June 2012
Hi all,
Could anyone answer my question. I have received the refund for f.y. 2008-09 from Income tax department. what entry to be passed. My companies tax payable is 161515 at the time of return filed. tds received from the airlines accounted which is 575990. I have received it reefund 518420. what is my final entry to be passed in books of accounts.
Regards
Could anyone answer my question. I have received the refund for f.y. 2008-09 from Income tax department. what entry to be passed. My companies tax payable is 161515 at the time of return filed. tds received from the airlines accounted which is 575990. I have received it reefund 518420. what is my final entry to be passed in books of accounts.
Regards
09 June 2012
Concerned bank debtor dr. 5,18,420
To Income tax refund account
To Interest Account
5,18,420
To Income tax refund account
To Interest Account
5,18,420
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