1. Is TDS asset or Liability ?.
2. Is TCS Asset or Liability ?.
3. Which is Debit side and Which is Credit Side in Balance
Sheet ?.
- 11 Answers
- 53258 Views
- I also Faced
- E-Mail Answers
Answer Posted / siva prasad.ch
TDS is the current liability for the company. because we r
collecting tax amount from the employees, contractors etc.
and
Tds is also current asset for individuals because the amount
is already deducted it is income to individual so shown in
current asset side
| Is This Answer Correct ? | 8 Yes | 1 No |
Post New Answer View All Answers
What do you mean by vat, vat registration total cost hydra bad in which places
What is the maximum amount to issue Form C to a dealer for the purchase of 40 crores in several bills in a quater?
If I have bought goods from a seller in India and finally exported it to some other country, my understanding says I have to issue form H to seller to get cst exemption. My question is wether Bill of lading is must to be given to seller or not bcos if I give bill of lading to the seller from whom i haave bought material confidential information will go to seller as bill of lading will have buyers details...pls guide how to overcome this issue.
procedure of service tax
we have sale material to party and freight paid by us. This freight charged in sale invoice than what is the entry of service tax in this case.
Dear All, We are a trader and doing one E-1 sales. Supplier send the material by To-pay basis, we endorse the LR and sold to Customer. Customer has given the purchase order for Basic amount and freight amount also. That means we have to pay the freight and getting the reimbursement from customer. In E-1 sales Invoice can we show the freight amount separtely as freight ? Since the customer need the freight head should be shown separetly. Or can we raise the separate debit note for this. Is it create any tax implifications in E-1? Please claify the same at the earliest. regards Regards Thananjeyan.P
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
please send me andhra bank clerk xam model papers
WHAT IS DEFERRED TAX LIABILITIES.AND WITH EXMPLE DEFERRED TAX ACCOUNTING?
how to filing rt-1
cgl2012 tier1 mein 62.50 marks they or mera naam TA wali list mein tha but mainey Auditor ko 1st prefernce choose kia tha tier2 mein maths mein 142 or english mein 104.50 marks aaye but fir bhi mera naam only list4 TA main tha or mujhey DEST typing test dena parha i want to know that agar main TA k liye typing test pass ahi kar pata to kya mujhey koi bhi post milegi. pls anybody knows tell me.
Explain the Calculation of Sales Tax?
what is the difference between vat 100 and vat 120?
What are the various forms used for VAT?
sir, please suggest me. If in case work contract, wct not deduct by principal contractor then what is the consequence ? I mean please clear me if the principal contractor not deduct wct then is the contractor (sub) liable to pay wct ?
