A senior Citizen who is a pensioner and also owns a proprietor business deposits advance tax from his current account and TDs deducted is shown in the asset side of the balance sheet at the time of preparing balance sheet upto 31-3 --. What is the treatment of that TDS and advance tax in the next FY balance sheet.Is it necessary to treat the same every year or it can be treated once the ITR of that FY is treated.
2.Can the refund received after the assessment of that particular years ITR BE brought in to bussines as capital introduced to increase the capital account. pls provide appropriate entries to be passed at the time of treatment.
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