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Tds

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Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2017 TDS Is not shown in prvious years Balance sheet as current Asset. so what is the accounting treatment of the amount received as TDS refunded this year?

whether it has to be shown as income?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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26 June 2017 Transfer the balance to capila income

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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26 June 2017 Transfer the balance to capital account. It cannot be shown as income, only interest on TDS refund is taxable.

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