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Discussion > Accounts > A/c entries >

TDS RECEIVABLE

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accountant

[ Scorecard : 32]
Posted On 12 January 2008 at 14:03 Report Abuse

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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CA AYYAPPA
Chartered Accountant

[ Scorecard : 271]
Posted On 12 January 2008 at 14:17

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




CA Pawan Lakhotia
Infosys Limited

[ Scorecard : 202]
Posted On 12 January 2008 at 14:47

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.



(Guest)
Posted On 12 January 2008 at 15:45

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



CA Chaitanya
PRACTISING CA

[ Scorecard : 4278]
Posted On 13 January 2008 at 22:14

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


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