Executive Accounts Question: Download Executive Account PDF
Tell me where should TDS received should show in balance sheet?
Answer:
TDS either can be deducted by other on payment/income we receive or we deduct on paymnet/expenditure we make to others.
In first instance TDS will be shown in Assets side in balance sheets under current assets and in second instance TDS will be shown in balance sheet under current liability.
TDS is part of advance tax for the deductee while for deductor its current liability.
In first instance TDS will be shown in Assets side in balance sheets under current assets and in second instance TDS will be shown in balance sheet under current liability.
TDS is part of advance tax for the deductee while for deductor its current liability.