Can Tds and Advance Tax of earlier years be transferred to Drawings
2 Replies
CA Shriniwas Khadloya
(Practicing CA)
(41 Points)
Replied 25 September 2011
dear pradnya
it should be trf to capital a/c instead of drawing.
CA Shriniwas Khadloya
CA. Manish Chandarana
(Practising CA)
(100 Points)
Replied 08 October 2011
TDS n Advance Tax are not the profit & loss items they are of personal nature so they should be debited to capital a/c.
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