Answer / anitha srinivasan

Both are treated as statuatory payments. It will reflect
under Current Liabilities under the group of provisions.

Answer / arjun

1.It Will treated as current liabilities when it is
deducted by us.

2.otherwise treated as cuurent Asset when person making
payment to us has deducted the TAX

Answer / n ihar

if you are the deductor then it will be liability for u and u should account under current liabilities.

Entry
Salary a/c -----------dr 50000
To Tds 5000
To Salary payable 45000
Then pass payment entry by debiting the TDS a/c and crediting the bank.Then u can find your tds account will nullified.

Same way u can pass entry for service tax. but after adjusting the input credit of service tax( eligible under service tax act)

Let me know rgarding the registration of partnership firm

1 Answers   Wipro,

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Expand ________DIPP

4 Answers  

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EXPAND___________JPEG

2 Answers  

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When and who prepares Letter of credit and is any relation with bill of exchange? pleas breaf with examle.

3 Answers  

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EXPAND______________PCB

4 Answers  

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WHAT ARE LIMITATIONS OF ACCOUNTS ?

4 Answers  

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Why Bank Reconciliation is required?Other reconciliation you do?

1 Answers   IBM,

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Sent debit note to Vijay traders for short supply of material Rs 4500/-Pass entry

1 Answers  

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company accounts & final accounts?

1 Answers  

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Being BE student why you want to join bank?

0 Answers   Banking, IBPS, Insurance,

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diffrence between the profit center and business area

0 Answers   Deloitte,

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What is the working formula for Working Capital

2 Answers  

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