about TCS

This query is : Resolved

Ram Prakash Gautam (Querist)
Follow

10 June 2010 sir,
As per my knowledge , when i open a ledger of TCS in tally then its under DUTIES & TAXES(current liab.), but some body says .
its my current assets. so its will be under current assets.
plz give ur valuable comments on it.
plz give me brief knowledge about it.

thanx & best regards
ram

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

10 June 2010 It is a libility to be paid not an asset. So should be grouped under duties & taxes.

If u are talking from the buyer point of view then it is an asset and should be included in current assets.

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

11 June 2010 when you purchase TCS dedusted in bill its your current assets. and will be adjusted with income Tax libility.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

T E SOUNDARARAJAN

HITESH NIRANJAN SAHU

Ishwar Radhakisan Tawani

RAJ SANKLECHA

Aakash Kumar

Subscribe Now

about TCS

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Senior Executive

Accountant

GST CONSULTANCY

Manager- Finance and Compliance

GST CONSULTANT