Income Tax Refund
This query is : Resolved
31 December 2010
received payment of income tax refund for the f.y. 2009-2010 under which head accounted?
As Indirect income or capital a/c??
Business status is Partnership Firm????
Urgent please..thanks in advance...
As Indirect income or capital a/c??
Business status is Partnership Firm????
Urgent please..thanks in advance...
31 December 2010
Interest on refund will be accounted as income.
Income Tax amount will be adjusted against provision created.
Income Tax amount will be adjusted against provision created.
31 December 2010
Thank you so much for your quick and valued response.....
please clear me that if party had not made tax provision than other than interest income tax refund where accounted???
please clear me that if party had not made tax provision than other than interest income tax refund where accounted???
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