gunesh
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Hi Friends, I am Gunesh. I am preparing for CA exam. May I know, Where should TDS received should show in balance sheet?
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acharya
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TDS receivables have to be shown in the balance sheet in the asset side until the Income Tax assessment is finally complete.TDS receivables for different years have to be shown seperately in Balance Sheet for different years.it has to be finally adjusted with the actual income tax liability once the assessment is complete.It has to refelect in the Balance Sheet in the asset side. It can't be shown in the P & L A/C.
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