why is TDS treated as an asset while preparing Balance
sheet.
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Answer Posted / h.s.sarda
there are two part of tds. first is we deducted & deposited
in bank its our liabalities. When we sales labour charges
or etc. then party deducted from tds on our behalf. it is
our current asset. we should setoff from income tax payable
a/c. so we treated as an asset.
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