Final Entry of Tds Receivable & Self assessment Tax
This query is : Resolved
21 July 2022
After adjusting TDS receivable from my total tax liability and further payment of Self Assessment Tax there is no further tax liability for particular financial year. The IT Return is assessed u/s 143(1).
Now can i transfer the Tds receivable and Self assessment tax to Capital A/c by passing journal entries as below
Capital A/c
To Tds Receivable
To Self Assessment Tax
Or transfer the same the to expense account
Note: Status of Return filer is Individual
Now can i transfer the Tds receivable and Self assessment tax to Capital A/c by passing journal entries as below
Capital A/c
To Tds Receivable
To Self Assessment Tax
Or transfer the same the to expense account
Note: Status of Return filer is Individual
21 July 2022
Correct these are transferred to Capital account.
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