What is an entry for INCOME TAX REFUND ?
Answer / yash r p
If provision entry made at the year end
Provision for Income Tax... Dr
Income Tax Refund.... Dr
Advance Tax... Cr
TDS.. Cr
Int. on Income Tax refund...
Receipt Entry
Bank A/c... Dr
Income Tax Refund
before passinf entry refere the assessment order
| Is This Answer Correct ? | 3 Yes | 0 No |
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