adjustment of tds in subsequent year
This query is : Resolved
16 October 2009
wat is journal entry to set off tds existing in balance sheet in subsequent year.can partners a/c be debited to set off tds
16 October 2009
There are two options for the same
First : Dr. the tds balance to partners capital account in the profit sharing ration.
Second : Wait till the assessement order receives. Then passed the J/v on the date of order & transfer the TDS amount to partners capital account. If your does not receive the order then wait for 2 FY & passed the J/v on the 01-Apr of third FY to give the effect.
First : Dr. the tds balance to partners capital account in the profit sharing ration.
Second : Wait till the assessement order receives. Then passed the J/v on the date of order & transfer the TDS amount to partners capital account. If your does not receive the order then wait for 2 FY & passed the J/v on the 01-Apr of third FY to give the effect.
17 October 2009
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