Zuber,
The right treatment is, it has to be squared off against TDS Receivable Account, showing in your Balance Sheet on Loans and Advances, on assets side. Journal Entry would be -
Bank Account ------------- Debit
To Tds Revceivable Account (AY XXXXXX) -------------- Credit
visit our website for further query
www.kcjmngo.com
Jahir Mansuri
T R SOOD & CO
New Delhi
CA Inter
View Details
SSGS and Associates
Chennai
CA Inter
View Details
CAclubindia
