Tcs
This query is : Resolved
01 January 2018
WE HAVE PURCHASED A NEW MOTOR CAR & SELLER CHARGED
US TCS. CAN THIS TCS AMOUNT SHOWN IN BALANCE SHEET AS
RECEIVABLE. WHAT IS THE ACCOUNTING ENTRY OF TCS IN THE BOOKS
OF BUYER.
PLEASE GUIDE.
US TCS. CAN THIS TCS AMOUNT SHOWN IN BALANCE SHEET AS
RECEIVABLE. WHAT IS THE ACCOUNTING ENTRY OF TCS IN THE BOOKS
OF BUYER.
PLEASE GUIDE.
01 January 2018
Yes, this is to shown as advance payment of income tax. entry wold be TCS for AY------ Dr. To (mode of payment)
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- TDS Claim year
- Relief u/s Section 89
- Rent lease agreement
- TDS Challan Code
- Lease agreement and tax on sale
- SALE BILL AGAINST GOODS RETURN
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Merchant Export Accounting
- Supply through E-commerce Operators
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
