DEPOSIT ASSETS


This query is : Resolved 

Quick Summary
This discussion clarifies the accounting treatment of Tax Deducted at Source (TDS) and Advance Tax payments. Both are considered current assets and appear on the asset side of the balance sheet. The core question is whether these amounts should be deducted from the Capital Fund account. The user is seeking a definitive answer regarding this specific balance sheet allocation.

21 August 2020 TDS IS CURRENT ASSETS AS WELL AS ADVANCE TAX IS ADVANCE IN ASSETS SIDE OF BALANCE SHEET. MY QUESTION IS THAT WHETHER TDS MADE AND ADV TAX PAID AMOUNT WILL DEDUCT FROM CAPITAL FUND ACCOUNT IN BALANCE SHEET? KINDLY REPLY.

21 August 2020 KINDLY HELP ME BY WAY OF ANSWERING THE QUESTION ASKED FOR. ON 20.08.2020 THE SAID QUESTION ASKED FOR BUT THERE IS NO REPLY. KINDLY LOOK INTO THE MATTER.

23 August 2020 KINDLY HELP BY WAY OF ANSWERING THE QUESTIONS ASKED FOR ON 20.08.2020 AND 21.08.2020.


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