14 August 2010
What is the treatment of tds receivable relating to 2008-09 which had been received on 30-06-2009.If it had been received on 30-04-2010 then how it will be handled.
14 August 2010
IT IS IMMATERIAL WHEN YOU HAVE RECEIVED THE TDS CERTIFICATE.IF TDS IS RELATING TO THE F. YEAR 2008-09 THEN TAKE THE CREDIT IN THAT YEAR.
YOU CAN SHOW TDS RECEIVABLE A.Y 2009-10 UNDER LOANS & ADVANCE AND PASS THE ADJUSTMENT ENTRY AFTER ASSESSMENT PROVISION FOR TAXATION ---------DR TO ADVANCE TAX TO TDS TO SELF ASSESSMENT TAX.