Tcs
This query is : Resolved
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.
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.
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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