Please suggest me a adjustment entry for IT refund in company books where there is no prepaid tax receivable in balance sheet?? Last year by mistake i closed TDS & Advance Tax, and nothing kept for refund adjustment.
Thank you in advance.
Harun Christo (Article Asst.) (3 Points)
15 February 2019Please suggest me a adjustment entry for IT refund in company books where there is no prepaid tax receivable in balance sheet?? Last year by mistake i closed TDS & Advance Tax, and nothing kept for refund adjustment.
Thank you in advance.
Harun Christo
(Article Asst.)
(3 Points)
Replied 19 February 2019
Thank you..
But i am not intending to show the same in profit and loss account, I need a entry to close the IT refund..
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