TDS treatement
This query is : Open
26 April 2017
In case of partnership firm what will be the treatement of TDS deducted by the firm of clients?
27 April 2017
1st TDS should be should as liability and than TDS should be deposited to government by the following month i.e. by 7th.
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27 April 2017
in any case can tds be shown in capital account?
27 April 2017
No TDS can not be shown in capital account.
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27 April 2017
i am going for an audit of a partnership firm. the accountant has transferred tds collected to the capital account.
27 April 2017
What do you mean by TDS collected..??
27 April 2017
i mean the tds which has been deducted by the firm
27 April 2017
TDS deducted will be shown under liability head and at the time of payment it will be nullified.. You are required to change the entry passed in capital account.
27 April 2017
ok.. thank you so much
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