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Income tax refund

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(Querist)
04 January 2016 Pls advise, what entry need to be passed on receipt of Income tax Refund for F.Y.13-14. Kindly indicate the head of accounts.

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Gurvinder Singh
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ANKIT AGARWAL

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ANKIT AGARWAL (Expert)
05 January 2016 Debit Bank, Credit Interest on TDS (Income); Credit the respective TDS (Asset) for the year; debit the Respective Tax Liability for the year (Liability)

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