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
2 Replies
CA CS Pushkar Agarwal
(Service)
(155 Points)
Replied 17 June 2012
TDS RECOVERABLE MEANS WHERE TDS DEDUCTOR HAS FAILED TO DEDUCT TDS ON PAYMENT & LATER ON RECOVERS THE SAME FROM THE RECEIPIENT.
Giridhar S Karandikar
(Team Lead)
(7553 Points)
Replied 22 June 2012
TDS Recovery is your liability & TDS receivable is your other current asset
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