Tds
This query is : Resolved
22 September 2014
I have viewed a balance sheet in which TDS and Advance tax has been mentioned as expense. Why is it??
Nikhil Kaushik
(Expert)
22 September 2014
well it is a wrong treatment..if somebody has done it, may be because of mistake..
Nikhil Kaushik
(Expert)
22 September 2014
in individuals etc, it should be debited to capital account.
in comapanies etc it should reflect as a provision for taxation in the books (here advance tax may be shown as an expense).
in comapanies etc it should reflect as a provision for taxation in the books (here advance tax may be shown as an expense).
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