Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 December 2013
What is TDS for deductee? Whether it is a asset or liabilities?
Ganeshbabu K
(Expert)
12 December 2013
A and B
.
.
if A deducts tds on payment to B
.
.
it is current liability for A--(he has to pay with in 7th of next month to it dept.)
.
it is Current Asset for B--(he can claim this tds deducted by A in his return of income)
.
.
if A deducts tds on payment to B
.
.
it is current liability for A--(he has to pay with in 7th of next month to it dept.)
.
it is Current Asset for B--(he can claim this tds deducted by A in his return of income)
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