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TDS treatement


26 April 2017 In case of partnership firm what will be the treatement of TDS deducted by the firm of clients?

27 April 2017 1st TDS should be should as liability and than TDS should be deposited to government by the following month i.e. by 7th.

27 April 2017 in any case can tds be shown in capital account?

27 April 2017 No TDS can not be shown in capital account.

27 April 2017 i am going for an audit of a partnership firm. the accountant has transferred tds collected to the capital account.

27 April 2017 What do you mean by TDS collected..??

27 April 2017 i mean the tds which has been deducted by the firm

27 April 2017 TDS deducted will be shown under liability head and at the time of payment it will be nullified.. You are required to change the entry passed in capital account.

27 April 2017 ok.. thank you so much


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