Tds receivable entry

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

 

smiley

 

 

Replies (1)
Yes your entry is correct.
And TDS receivable comes under current assests. Not in capital account.

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