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Tds

114 views 1 replies

ashish

professional

60 Points Joined May 2016

if any corporate body or individual deduct the tds of pvt ltd company how it shown in company balance sheet and what treatment will done after receiving refund by deptt . plz explain with journal entry and example in details

Replies (1)

Shivam gupta

student

263 Points Joined December 2009

Bank acc. Dr
TDs acc. Dr
To 'respective head of income'

TDs amt. will be shown in balance sheet.

at the time of refund-
provision for income tax SCC. Dr.
To TDs acc.
To bank acct.