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.

CA Anshu Agarwal

CA Anshu Agarwal (Expert)
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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.