HI FRIENDS,
WHAT WOULD BE THE CLASSIFICATION FOR TDS & ADVANCE TAX OF AN ASSESSEE(CURRENT OR NON CURRENT)?? WHAT SHOULD BE THE BASIS OF SUCH CLASSIFICATION? WHETHER IT VARIES FOR DIFFERENT ASSESSES ?REPLY ASAP...........
REGARDS,
NITIN
Menu
Classification
Replies (2)
TDS and Advance tax are current assets only. An asset which is expected to be realized within twelve months of the reporting date (close of the financial year) is treated as current asset.
This treatment is same for all assesssees.
In the case of a company ,what is the actual realisation of these assets ,according to me we should consider the assessment which sometimes is after 12 months also........
Recent Topics :
- Paper 6 - IBS
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
Related Topics :
CAclubindia
