Should I show TDS & Advance Tax under "Other Current Assets" under the revised sch-VI?
Regards,
Souvik Kumar Ghosh (CA Final) (1368 Points)
15 June 2012Should I show TDS & Advance Tax under "Other Current Assets" under the revised sch-VI?
Regards,
Mohd. Hammad
(CA Article )
(103 Points)
Replied 15 June 2012
In my views under new revised schedule VI...TDS / advance tax should be shown as "SHORT-TERM LOANS AND ADVANCES" under CURRET ASSETS as "Unsecured, considered good" OTHERS ADVANCES.
It should be present in notes to account as :
SHORT-TERM LOANS AND ADVANCES
Unsecured, considered good
Others
Advances
Withholding and other tax receivable.
Mohd. Hammad
(CA Article )
(103 Points)
Replied 15 June 2012
Can any one suggest my above query related to Printers, IPADS, Murti of GOD.
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