Accounting for college
This query is : Resolved
27 January 2022
How should a college record the following items in its books of accounts?
1. Development Fee
2. TDS
3.Provident Fund
1. Development Fee
2. TDS
3.Provident Fund
27 January 2022
1 Treat it as direct income in p and l.
2 TDS keep it under current assets and adjust against tax payable.
3 Provident fund charge it as expenses.
2 TDS keep it under current assets and adjust against tax payable.
3 Provident fund charge it as expenses.
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