Doubt: Accounting for TDS Receivable once Assessment is made
For Eg: i have a TDS Receivable as asset in bs fro three Ays (11-12, 12-13, 13-14) around 3Lakhs. now during ay15-16 i the assessment has been done and the tax has been refunded. as 11-12 - 2lakhs, 12-13-2.5 lakhs and 13-14 1lakh.
now how do v adjust the TDS receivable in the balance sheet?