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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 June 2013 TDS received by the payer is a P & L DR or P & L CR or B/S asset or B/S Liability item? As per my understanding, TDS is current liability for the company because they r collecting tax amount from the employees, contractors etc and will pay to the govt in the year end so it’s a current liability to the company.

Please advise if my understanding is correct?
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Rupesh Jain

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Rupesh Jain (Expert)
19 June 2013 IT IS UNDER CURRENT LIABLITY OF THE COMPANY
PAY BY CO. ON DUE DATE
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