TDS treatement
This query is : Open
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.
Message likes :
1 times
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.
Message likes :
1 times
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- Regarding TDS Applicability For Director Remuneration
- Regarding appeal to GSTAT
- Multiple trade mark
- Copyright software
- Value of property in capital gain
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Taxation on Swing Trading Income (No Other Income)
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
