01 October 2010
Dear Sir/madam, I want to clarify one doubt regarding Presentation of Accounts. i.e. M/s.ABC Ltd providing consultancy services & received the amount after TDS.That TDS was accounted by ABC Ltd under head of Loans & advances(assets).That doing accounted the TDS for the Past two years under the same head.When it will be utilized?Actually every year it use the TDS when compute the Tax Liability(Tax payable-TDS=Self Assessment Tax).But there is no entry provide for that.Actually how it should be presented in the accounts of a company?
CAclubindia
