Income tax refund income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2015
AN ASSESSEE HAS GOT TDS REFUND OF RS. 40,503/-.
FOR THE NEW YEAR A. Y. 2015-16. SHOULD IT REFUND SHOULD CONSIDERED AS INCOME AND SHOWN IN PROFIT AND LOSS ACCOUNT ?
FOR THE NEW YEAR A. Y. 2015-16. SHOULD IT REFUND SHOULD CONSIDERED AS INCOME AND SHOWN IN PROFIT AND LOSS ACCOUNT ?
31 July 2015
Only interest on IT refund if any is considered as income.
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