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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (159)
 Taxation interview questions  Taxation Interview Questions (1916)
 Accounting General interview questions  Accounting General Interview Questions (2843)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
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
  Question Asked @ Answers
Hi, We want to know about Balance Sheet, and what is main need for preparation of B/s Bank-Of-America 1
different between income accrued and income receivables   3
Our one Company Profit is 67.61 Lakh, How to Calculate Advance Tax For First Qurter Als? HP 1
in balabce sheet under what audit fee comes   10
how many years deduct the depreciation amount   4
if bill has came for payment for car repair purpose in bill they mentation total parts value is 21000 and labour 13000 with total of 34000 inthat on parts vat is include so we have to deduct tds u/s 194c @2% on full amount of 34000 or not(bill is single for whole 34000 purpose_ Maruti-Suzuki 3
Is TDS on Contract is applicable on the subscription charges payable towards computer software?   2
what is mean by misc- assets?   3
When is income from rented accommodation to be treated as investment income and when as trading income?   2
what is suspense capital a/c? when this type of account will be opened in the books of accounts?   2
difference b/w debit and credit   10
If my basic salary is Rs 15000/- Pf is deducted on capping of 6500/- ie 780/- per month. If I work for 20 days and then my basic salary comes to rs 10000/- which is still higher than minimum limit of Rs 6500/-.Please suggest PF deduction will be 780/- or lower based on 6500x20/30x12%   8
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