TDS

Manoj kashera (Articleship) (64 Points)

29 September 2011  

TDS (ASSETS) for (AY 2008-09) for 55000 written in balance sheet for the year ended 2010-11 of proprietorship concern. 

I think,  when TDS deducted than it is our current assets. and when the tax computaion is done tax payable will be 

netoff TDS.

suppose Tax Payable= 100000/-

              Less:- TDS    =  55000/-

                           Net Tax Payable=     45000/-  that means TDS was claimed in AY 2008-09, 

then why it is written in Balance of F.Y. 2010-11.?

Plz. sort out my confusion, i am very thank ful for all of U.