Rahul Verma
(CA-Final)
(484 Points)
Replied 07 June 2016
Dear
Firstly TDS deducted should be adjusted from TDS Payable and balance should be stand in TDS Refundable.
Secondly when TDS Refunded that should be adjusted from that and any extra amount received on that should be treated as income from other source.
In case of properitorship it should be adjusted into partners capital.
RAhul
Binu V
(Accountant)
(25 Points)
Replied 07 June 2016
Sir,
TDS refunded indicated the amount as you said. Can it be treated as Capital to the Managing Partner of Partneship Firm or only to sole propreitor's Capital.
Thanks & regards
Rahul Verma
(CA-Final)
(484 Points)
Replied 07 June 2016
if you are talking about the partnership firm, then that should be adjusted to partners capital in ther psr ratio.
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