TDS Refund


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06 September 2010 A proprietor received TDS refund for the AY 2008-09,Rs10,000 in FY 09-10.

While In balance sheet for FY 09-10,it have TDS A.Y 08-09 Rs,22,500 on Assets Side.

Now i want to know what will be accounting treatment in proprietor books of Account?

06 September 2010 If the difference is due to short receipt then reduce the balance and write a letter for rectification for short receipt of refund.

If the difference is due to tax payable in that year not transfered to the his capital a/c then transfer it now to his capital a/c Rs. 12,500/-.

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06 September 2010 Sir,i want to know what entry will be passes to transfer TDS Amount to Capital A/C.

06 September 2010 capital a/c debit to TDS

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06 September 2010 Thanks Sir.

06 September 2010 U can also thank by using the thank user icon.


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