TDS Receivable
This query is : Resolved
Amit kumar
(Querist)
14 August 2010
What is the treatment of tds receivable relating to 2008-09 which had been received on 30-06-2009.If it had been received on 30-04-2010 then how it will be handled.
Ram Avtar Singh
(Expert)
14 August 2010
Its calculated in 08-09 with advance Tax. not TDS Certificate recd. file it. it will be shown at the time of assessement.
Closing entry to be passed.
advance Tax provision DR*******
Profit & Loss Dr*******
Advance Tax Cr******
TDS receivable Cr*******
TCS Paid Cr*******
Self Assessement Tax Cr*******
Closing entry to be passed.
advance Tax provision DR*******
Profit & Loss Dr*******
Advance Tax Cr******
TDS receivable Cr*******
TCS Paid Cr*******
Self Assessement Tax Cr*******
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CA Sanat Pyne
(Expert)
14 August 2010
IT IS IMMATERIAL WHEN YOU HAVE RECEIVED THE TDS CERTIFICATE.IF TDS IS RELATING TO THE F. YEAR 2008-09 THEN TAKE THE CREDIT IN THAT YEAR.
YOU CAN SHOW TDS RECEIVABLE A.Y 2009-10 UNDER LOANS & ADVANCE
AND PASS THE ADJUSTMENT ENTRY AFTER ASSESSMENT
PROVISION FOR TAXATION ---------DR
TO ADVANCE TAX
TO TDS
TO SELF ASSESSMENT TAX.
YOU CAN SHOW TDS RECEIVABLE A.Y 2009-10 UNDER LOANS & ADVANCE
AND PASS THE ADJUSTMENT ENTRY AFTER ASSESSMENT
PROVISION FOR TAXATION ---------DR
TO ADVANCE TAX
TO TDS
TO SELF ASSESSMENT TAX.
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