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why tds is considered as asset
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Answer / eknath
TDS is income tax. Income tax is liability of every profitable entity. If liability is to be paid in advance or at source on that day it becomes Asset of business
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Answer / raghu.v
TDS will deduct on income.
when we provide the service to customer ,they will deduct and will pay remain amount,TDS amount we will consider as asset and same will claim at the time if Income Tax Return( will less on tax paying)
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Company should deduct TDS or not if Company is paying the amount directly to the Sub-Contractor by Debiting the A/c of Contractor and Crediting the A/c of Sub-Contractor ?? Rate??
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