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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1898)
 Accounting General interview questions  Accounting General Interview Questions (2807)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
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 ?    15 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 ?    7 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
what will be the accounting treatement when we are booking sales in our books and we know that the Debto will deduct the TDS and then will pay the amount   1
State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100   2
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For more Audit Interview Questions Click Here 

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