why is service tax recievable shown as dr balance under
liability in b/s
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Answer Posted / priyank kaushik
Tds amt must be added to the amt received after TDS so that
Total income will appear in profit and loss account.The amt
is shown in the asset side of teh balance sheet. It has to
be finally adjusted with the actual income tax liability
once the assessment is complete.
Plz correct me if am wrong. And also please explain.....
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