How pass Entry for TDS receiviable write off which is showing in balance sheet for the FY 07-08,08-09,09-10, at the time of finalization for the FY 10-11.
25 November 2010
You need to adjust TDS receivable amount into Income tax payable by receive TDS certificate from deductors and produce the same to income tax officer for each and every. finally, there is no (zero balance) TDS receivable at the time of Income tax filling. if TDS certificate received, until you can show the same in TDS receivable or deductor debit balance. I thought you better to transfer as expenses or current account for the proprietor or owner by help of auditor.
CAclubindia
