Dear Sir's,
we have paid Self assment tax of Rs. 4921311 & TDS receivable is Rs. 71962 for the Year 2016-17 this two amount are open in current asset plz let me knoow the closing entry
3 Replies
Apurva Salunkhe
(13 Points)
Replied 22 August 2018
Debit Capital A/C -4993273
Credit SAT-4921311
Credit TDS Rece-71962
is it correct Entry?
Ankita Chachan
(practitioner)
(548 Points)
Replied 22 August 2018
Trasfer self asessment taxto capital account.
Is TDS receivable is adjusted against the tax paid by you??
satish
(teaching)
(2046 Points)
Replied 23 August 2018
tax liability (incl cess) 1000
less: tdas. 300
balance paid. 700
entry for the above case
tax liability a/c. Dr. 10000
to TDAS. 300
to Bank. 700
less: tdas. 300
balance paid. 700
entry for the above case
tax liability a/c. Dr. 10000
to TDAS. 300
to Bank. 700
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