hi
My Rent Income is as under
Rs.200000, tds Rs. 2000 , I got Rs.198000 through cheque
I have passed enrty
1. Bank a/c dr 198000
TDS receivable a/c dr.2000 ( under current asset )
to Rent Income Rs.200000
when I received tds cheque from ITD, I passed
Cash a/c Dr.2100
To TDS receivable a/c Rs.2000
To Interest on I.TAX Refund Rs.100 ( indirect Income)
are the above true ?
further sir
whether TDS receivable is under capital head or current asset head conisidering Proprietorship Concern
CAclubindia
