Tds

This query is : Resolved

vivek (Querist)
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05 March 2014 my debtor deducted tds and paid the balance amount where it will be reflected in 26AS for the same I will claim during my tax calculation.

but my client shows tds receivable for previous years under current assets.

how this is made?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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05 March 2014 1. The TDS amount will be reflected in Form 26AS when TDS return is filed.

2. The TDS deducted by the debtor is shown under TDS receivable.

Entries:

At the time of invoice

Debtor Dr
To Income

Payment

Bank A/c Dr
TDS Receivable A/c Dr
To Debtor