Vardan Singh Sengar (Accounts Manager in Private Company) (433 Points)
03 April 2014Can Any one provide me the income tax entries for tds receivable not claimed for the past years say 06-07, 08-09, 09-10, 10-11. where to transfer the same. Also provide me the income tax adjustment entries for the previous year & current year for tax provision & its adjustment against the self assessment tax & tds paid.
veeru sagar
(BBE,M.com,CA Final )
(473 Points)
Replied 04 April 2014
Dear vardhan
income tax entry for the tax adjustment is
income tax Provision A/c (Dr) xxxx
To TDS Receivable A/c (Cr) xxxxx
To Advance Tax paid (Cr) xxxx
To Self Assessement Tax Paid xxxx
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