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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4369)
tds effect in balance sheet  if tds receipts
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
# 1
Tds receipt will be shown in asset side. It can be adjusted
from income tax payable.
Is This Answer Correct ?    16 Yes 1 No
# 2
In Assets Side:
Advance In-Come-Tax A/c Dr with TDS received Amount
and Party A/c Cr with TDS received Amount
Is This Answer Correct ?    16 Yes 6 No
Jaysukh Solanki, Dudhsagar Dai
# 3
Tds Receipts will be shown in assets side under loans &
advances and it will be adjusted to Income Tax A/c.
Is This Answer Correct ?    8 Yes 3 No
# 4
In Assets side ,
Can Adjust these amount on Income tax payable
Is This Answer Correct ?    3 Yes 1 No
# 5
Is This Answer Correct ?    3 Yes 1 No
# 6
how can a company show advance tax of rs 10 and also TDS for
teh same year of Rs 10? similarly, for the next year advance
tax shown is rs 2 but TDS is rs 8.

its a construction company. is the TDS relating to some
other aspect of business?
Is This Answer Correct ?    2 Yes 1 No
# 7
In Assets Side:
Advance In-Come-Tax A/c Dr with TDS received Amount
and Party A/c Cr with TDS received Amount

in the tds rec. will adjested in memo of total income.
Is This Answer Correct ?    3 Yes 3 No

Other Audit Interview Questions
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whether in the case of BIFR scheme the non payment of dividend FOR MORE than 7 years shall go in the Dividend Equalisation fund/ Investors Protection fund   1
what is pert(project evaluation and review techniques)?   1
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What would be treatment of insuance claim received when vehicle is damaged and related exp. is already debited to Repair and Main. A/c   7
Expand---------PRSM   1
what is internal check?   3
1)how will you check the expenses? Pantaloon 12
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