TDS Receivables

This query is : Resolved

Share Report Follow Query Ask a Query

CA. SUDHARSAN K G

CA. SUDHARSAN K G (Querist)
Follow

17 October 2007

Ravikumar.G

Ravikumar.G (Expert)
Follow

17 October 2007 It can adjust after receiving of Assessement Order from the IT Dept.

Ramasubbu K

Ramasubbu K (Expert)
Follow

18 October 2007 Since TDS receivable is in the nature of advance tax paid for the respective year, it is not necessary to wait till the receipt of assessment order from the department. You can treat is as advance tax and it can be adjusted in the tax provision and the balance tax provision can be shown in the balance sheet as (Provision for Taxation - Net of advance tax)

CMA Gul S

CMA Gul S (Expert)
Follow

18 October 2007 It is Advisable to Adjust the same against the Assessment Order for the Particular Year, to have better Accounting Control and the Taxation Accounting

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
Follow

18 October 2007 Another way is to reflect the refund receivable from department only as balance in asset side of the Balance Sheet . This way you can keep a track of refunds from department .

KAAPIL

KAAPIL (Expert)
Follow

08 November 2007 Thanks to all.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vinod Patil

SANJAY GAIROLA

Rajat Khandelwal

CA. Urmila Mahalwal

velichety.l.narasimharao

Subscribe Now

TDS Receivables

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

CA Final

Accountant

GST CONSULTANT

GST CONSULTANCY

Senior Executive