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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 December 2013 What is TDS for deductee? Whether it is a asset or liabilities?
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Ganeshbabu K

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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)
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