Tds refund

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

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

if you are talking about the partnership firm, then that should be adjusted to partners capital in ther psr ratio.