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Income tax refund

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(Querist)
23 February 2009 What is the accounting for income tax refund amount ?
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
23 February 2009 It is to be adjusted with the balance standing in the ledger of Advance tax/TDS Recievable, and the interest portion is credited to Indirect incomes.

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