CASH BASIS OF ACCOUTING
This query is : Resolved
26 March 2009
My Company follows cash basis of accouting
but we book the whole TDS amount the certificate which we get from the party
But on the corresponding the total income is not booked because we follow cash basis
is this the right treatment
Please help
but we book the whole TDS amount the certificate which we get from the party
But on the corresponding the total income is not booked because we follow cash basis
is this the right treatment
Please help
27 March 2009
The TDS should be booked with corresponding income and you can not break up the TDS in two saparte years to correspond with the Income Booking therefore the Income should be booked in the year to which it relates to get the full benefit of TDS
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