Dear All
We have one client company have R&D expense but we did mistake and didnot claim relief and client had to pay corp tax in 2008, in 2009 we file amended tax return for 2008 and claim relief and this year client get back the refund of corp tax he paid , my question is
1- Is this refund company income?
2- how we should show in accounts and will this refund increase this year profit?
Thanks in advance.
Abid Raja