Poonawalla fincorp
Poonawalla fincorp

Tds

This query is : Resolved 
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(Querist)
22 September 2014 I have viewed a balance sheet in which TDS and Advance tax has been mentioned as expense. Why is it??
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 September 2014 well it is a wrong treatment..if somebody has done it, may be because of mistake..
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shakya

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shakya (Querist)
22 September 2014 so what is the correct treatment
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shakya

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shakya (Querist)
22 September 2014 PLEASE REPLY. What shall be done to this expense.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 September 2014 in individuals etc, it should be debited to capital account.

in comapanies etc it should reflect as a provision for taxation in the books (here advance tax may be shown as an expense).

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