Tds deducted on salary
This query is : Open
piyush kr. singh
(Querist)
26 August 2016
Respected Experts,
Could any one tell me the treatment of the following in accounts:
1) If a company Deducted TDS on Director remuneration to directors, Where it is to be shown in books of company & what is the name of the ledger .
Further Company has its own tds deducted by others which is shown in current assets.Can we merge these two ledgers to derive the net tds.
2.) How to project cash requirement of the company for next year. We always have cash crunch in books. What is the best technique to projects the cash requirement in case of transportation company.
Thanks in advance
Could any one tell me the treatment of the following in accounts:
1) If a company Deducted TDS on Director remuneration to directors, Where it is to be shown in books of company & what is the name of the ledger .
Further Company has its own tds deducted by others which is shown in current assets.Can we merge these two ledgers to derive the net tds.
2.) How to project cash requirement of the company for next year. We always have cash crunch in books. What is the best technique to projects the cash requirement in case of transportation company.
Thanks in advance
CA R SEETHARAMAN
(Expert)
26 August 2016
1 It can't be merged it has to be shown under liability head under TDS payable. The amount has to be remitted to govt before 7th of every month.
2 Prepare a projected cash flow from the budget prepared for the next year.
2 Prepare a projected cash flow from the budget prepared for the next year.
piyush kr. singh
(Querist)
26 August 2016
Thanks Sir,For valuable reply Reply.
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