About tds and trial balance
This query is : Resolved
13 December 2011
why is tds treated as an asset in the balance sheet&When Trial Balance match?
13 December 2011
TDS Deducted from us is a Kind of advance tax paid therefore it is treated as asset.
Also remember, TDS deducted by us which is yet to be paid is a current liability and therefore shown in liabilities side.
Also remember, TDS deducted by us which is yet to be paid is a current liability and therefore shown in liabilities side.
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