Treatmet of remaing balance in TDS legder after getting refund in case of partnership firm

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student
86 Points Posted on 01 March 2023
what is the entry for the balance remain in the tds ledger after receiving refund for the a.y 2022-23.
refund is short of the amount of tds deducted.
for say TDS amt is 24530 and refund is 21458.
what is the treatment of 3072. in case of partnership firm.
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On 01 March 2023 at 15:52 Report
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Quick Summary
This discussion addresses the accounting treatment for any outstanding balance left in a TDS ledger after a refund has been received by a partnership firm. Specifically, it explores how to handle the difference when the refund amount is less than the total TDS deducted. The suggested entry involves debiting the partners' capital accounts in their profit-sharing ratio.

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Practising CA
8954 Points Posted on 02 March 2023
Debit to partners capital in profit sharing ratio.
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On 02 March 2023 at 00:55
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student
86 Points Posted on 02 March 2023
Ok thank you
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On 02 March 2023 at 13:38

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