Tds recovery-
Querist : Anonymous
We have Paid our Contractor,Professional,Advertiser TDS for 2013-14 .Now we want to Recover from them .While Recovering the particular Received amount under which Accounting Head entry will be pass ?
In OTHER INCOME - P&L INDIRECT INCOME Side OR In TDS RECOVERABLE . & if it is TDS Recoverable then Under which Head I want to Park the TDS Recoverable Ledger ?
Kindly Explain......
Querist : Anonymous
Kindly explain me that Advance Recoverable Account under which Group of Balance Sheet ?
e) Short-term loans and advances.
While remitting TDS last year it is accounted under TDS recoverable account now it can be adjusted against it. If it is charged to revenue last year then it can be taken as P&L indirect income during the year.
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