Tds in current assets side
This query is : Open
02 September 2017
HOW CAN I SQUARED UP TDS OF PREVIOUS YEAR ON ASSETS SIDE OF BALANCE SHEET IN NEXT ACCOUNTING YEAR?
PLEASE EXPLAIN....
PLEASE EXPLAIN....
02 September 2017
It should be adjusted with Income tax provision & TDS refund if any
07 September 2017
can you explain with an example sir..
07 September 2017
If you claim the refund, than the enter will be at the time of refund will be
Bank A/c Dr 110
To TDS Receivable 100
To Int onIT Refund 10
07 September 2017
If provision for tax created at the year end than the entry will be
IT Provision Dr ****
To TDS Receivable. ***
To Advance Tax ***
To Bank ***
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