Cash basis of accounting and TDS
This query is : Resolved
CA Anoop Kumar ACA
(Querist)
16 September 2023
Mr A has following cash basis of accounting.
Case 1
Bill raised for service given 50000 and payer deducted the tds 5000 paid the balance 45000.
Case 2
Bill raised for service given 50000 and payer deducted the tds 5000 and paid nothing to him
Case 3
Bill raised for service given 50000 and payer deducted the tds 5000 and paid 25000 to him
In these cases how much TDS receivable can be accounted in A books?
Case 1
Bill raised for service given 50000 and payer deducted the tds 5000 paid the balance 45000.
Case 2
Bill raised for service given 50000 and payer deducted the tds 5000 and paid nothing to him
Case 3
Bill raised for service given 50000 and payer deducted the tds 5000 and paid 25000 to him
In these cases how much TDS receivable can be accounted in A books?
30 September 2023
The cash accounting method records revenue and expenses only when an actual transaction occurs. This means that income is recorded when the payment is received, and expenses are recorded when they are paid.
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