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Tds refund

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(Querist)
28 August 2013 If i got refunded tds amount on my current account what will be entry for this in our book?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
28 August 2013 Bank a/c ....dr
To Capital A/c

It is presumed you are a sole proprietor.

Tds refund is not taxable but int on tds refund is taxable as income from other source.
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Hemant Kumar

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Hemant Kumar (Expert)
28 August 2013 Bank Ac. Dr.
To TDS Receivable Ac.
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