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(Querist)
01 January 2018 WE HAVE PURCHASED A NEW MOTOR CAR & SELLER CHARGED
US TCS. CAN THIS TCS AMOUNT SHOWN IN BALANCE SHEET AS
RECEIVABLE. WHAT IS THE ACCOUNTING ENTRY OF TCS IN THE BOOKS
OF BUYER.

PLEASE GUIDE.
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CA Suresh Jain

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CA Suresh Jain (Expert)
01 January 2018 Yes, this is to shown as advance payment of income tax. entry wold be TCS for AY------ Dr. To (mode of payment)

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