last balance of tds receivable

There are two types of accounting :

1) Keep such amount in another ledger with advance tax. Create a seperate account for Income tax payable based on the calculations made before finalising the balance sheet.

Contrarily,

2) Adjust the tax liability with the TDS and advance tax paid. Keep the balance if payable in IT payable otherwise in Income Tax Refundable(Year).

The amount of TDS recoverable will be set off against the next year when u will pass the accounting entry for tax liabilty and payment for the tax liabilty

praveen gave a good and complete answer