Can we Recognise TDS recievables at the time of Receipt from Customer instead of recognising at the time of TDS Recievables at the time of sale of services....??
If yes, please let me know is there any specific guideline or circular or others..
Thanks in advance
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when to recognise TDS recievables in books of a counts
Replies (1)
TDS receivable, generally, can be booked at any time in the year beacuse the income tax return is filed annually and TDS receivable will have to be adjusted at that time from income tax.
Otherwise , if you regularly reconcile the accounts with customer books or for proper monthly closing, you can book it when you receive the lesser amount from the customer.
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