what will be the treatment of tds deducted by clients if
the it is private company
- 1 Answers
- 4390 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
Any amount of Tax Deducted at Source on the payments
received or receivable by a company is an asset (TDS
Receivable). It needs to be adjusted to the Income Tax
payable tot eh Government like Advance Income Tax. (It's
also an Advance Tax paid, but not by the company directly,
but by it's customers in the form of TDS). For claiming TDS
the Company needs to have TDS certificate issued by the
deductors, like the copy of Advance Income Tax Challan.
Whether it needs to be submitted with the IT Dept. or not is
as per the requirement of the Income Tax Act, 1961.
| Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
What methods do you use to discover sales opportunities?
What is the equation for acid-test ratio in accounting?
If the company acquires equipment prior to incorporation what are the accounting entries?
Explain me by saying, perpetual or periodic inventory system; what do we mean?
As you know excellent communication skills are at the core of this position. Do you have experience with interpersonal communication in a professional setting?
how many times we can deposit the old currency in one a/c in the bank
Tell me what is project implementation?
Explain me fair value accounting?
Explain purchase day book.
what is your opinion regarding T.V shows on youth
Can you differentiate public and private accounting?
TDS %AGE ON CALLIBRATION CHARGES BILL
Do you know company's payable cycle?
What are trade bills?
What is an operative accounts?
