could anyone please help me my boss wants me to explain the difference between TDS RECOVERABLE AND TDS RECEIVABLE.. how will we pass the entry in our books please anyone explain me with the help of simple example.. please please please...thanks in advance
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Tds recoverable and receivable
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TDS RECOVERABLE MEANS WHERE TDS DEDUCTOR HAS FAILED TO DEDUCT TDS ON PAYMENT & LATER ON RECOVERS THE SAME FROM THE RECEIPIENT.
TDS Recovery is your liability & TDS receivable is your other current asset
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