Treatment of tds refund in case of atrust
Mansoori M. Zubair M.salim (M.Com / IPCC cum ATC / CA Final) (208 Points)
03 April 2014Mansoori M. Zubair M.salim (M.Com / IPCC cum ATC / CA Final) (208 Points)
03 April 2014
KCJM | NGO
(Chartered Accountant)
(37 Points)
Replied 03 April 2014
Zuber,
The right treatment is, it has to be squared off against TDS Receivable Account, showing in your Balance Sheet on Loans and Advances, on assets side. Journal Entry would be -
Bank Account ------------- Debit
To Tds Revceivable Account (AY XXXXXX) -------------- Credit
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Jahir Mansuri
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies