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TDS RECEIVABLE


Hi,

Please let me know how to make the TDS Receivable accounting entry in the books of accounts.

My question is I need to show this in current assets or posted to P & L as expenditure.

Please help me in this regard.

Regards

Srinivas

 

 

 

 

 

 
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Chartered Accountant


Entry for TDS Receibales is as below TDS RECEIVABLE DR (Loans & Advance) To Debtors a/c Remember TDS Receivable is like advance tax

 
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TDS RECEIVABLE IS LIKE A FULL COLLCETION FROM THE PARTY .THEREFORE PARTY SHOULD BE CREDITD AND TDS RECEIVABLE SHOULD BE DEBITED AND TO BE SHOWN IN ADVANCES TI INCOME TX DEPATRMENT.

 
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(Guest)

HI.... tds receivable is to be shown as current assets in the balance sheet..... or we can treat this like an advance tax.......

 
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TDS receivable is a current asset or alternatively it can be shown under the head prepaid or advance taxes.

 
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