accounting treatement
This query is : Resolved
07 August 2008
For a Private Ltd Coy
How should I write-off a prior prd TDS(Debit)(Rs.93000) made on 31.05.2005.
Option :-
A) whether tr.to Reserves & Surplus A/c.
Or
b) treating as an Prior prd item and keep in profit & loss a/c.
Suggest me the experts.
urgent.
How should I write-off a prior prd TDS(Debit)(Rs.93000) made on 31.05.2005.
Option :-
A) whether tr.to Reserves & Surplus A/c.
Or
b) treating as an Prior prd item and keep in profit & loss a/c.
Suggest me the experts.
urgent.
07 August 2008
Prior Period TDS must have been claimed in the Income Tax Return which is adjustable against the refund received or amount set off against ur liability which may further be set off against the Income Tax provision. Even after the adjustments some balance is left in the account(which should not be), the same may be w.off to P&L Appropriation A/c.
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