Balance sheet
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2016
Dear Sir,
Suppose I have entered Rs. 45000/- as tds amount in current assest side of balance sheet for the fy 2014-15.
Now I have received Rs. 45000/- + 1000/- Int. on refund ( during fy 2015-16). Then I should add only 1000/- in capital a/c of fy 2015-16, as I have already entered Rs. 45000/- in my balance sheet of fy 2014-15 ?
or
I should add both 45000/- + 1000/- in my capital a/c of fy 2015-16 ?
Please enlighten me.
Suppose I have entered Rs. 45000/- as tds amount in current assest side of balance sheet for the fy 2014-15.
Now I have received Rs. 45000/- + 1000/- Int. on refund ( during fy 2015-16). Then I should add only 1000/- in capital a/c of fy 2015-16, as I have already entered Rs. 45000/- in my balance sheet of fy 2014-15 ?
or
I should add both 45000/- + 1000/- in my capital a/c of fy 2015-16 ?
Please enlighten me.
10 July 2016
You should credit tds receivable by Rs. 45000, and capital account by Rs. 1000.
Alternatively, you can credit capital account by whole amount. And transfer whole amount of tds receivable to the capital account.
Alternatively, you can credit capital account by whole amount. And transfer whole amount of tds receivable to the capital account.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITDS U/S.194T of Firm
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
