Whether tds receivable is a profit and loss account when there is loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2013
Dear Sir,
One of my client has incurred loss during last FY. Also there is no tax liability. But some parties has deducted TDs during the year. How I should cosider it while preparing FS?
One of my client has incurred loss during last FY. Also there is no tax liability. But some parties has deducted TDs during the year. How I should cosider it while preparing FS?
15 July 2013
It remains under tax receivable only under other current assets. you can file the return and take refund from department, till that time asset only
16 July 2013
Agree with Expert. You have to show it as a TDS Receivable(Current Asset).
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2013
Thank you all
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