Answer / akhil gupta

TDS Receivable means the TDS that is deducted by the your
customer or the Bank and financial institution on interest.
The nature of this item is similar to the Advance Tax paid
by the Company, since the amount of TDS is also adjusted
frim the Tax liability of the Company when you are making
the Computation.

There are four major category of Current Assets in the
Balance Sheet:

1. Cash and Cash Equivalent, TDS receivable is in the nature
of advance tax and can not be termed as cash and cash
equivalent, Even though you are claiming it as refund in
your ITR you have to wait for the refund order by your
assessing officer for getting the refund in your bank
account, it can not be withdraw like bank balance.

2. Debtors
3. Inventory

4. Loans and Advance ( for balancing items): Like
Advance/Prepaid taxes it is also classied as Loans and Advances.

Hope this will clear your question.

I want to know whether entry tax is applicable for capital goods imported ? and is it applicable if imported capital goods purchased from dealer?

1 Answers  

---

If my Basic Salary is Rs.23000/- than what is the tax impact on it ie PF,ESIC,PT & TDS with calculation.  and also if i had received only 9mth salary.  

1 Answers   Triple A Overseas Ltd,

---

what do you mean by C form , meaning and example

29 Answers   Al Badr Seafoods, Axson Revocoat, C Form, Value Labs,

---

what is perquisite? what do you mean by gratuity?

2 Answers  

---

How to Calculate the ESI,PF?it is basic Salary or Gross Salary?

97 Answers   ACME, Airtel, ESI, FMCG, GOMS, Goyal Group, Goyal Motors, Gurukul, HCCBPL Hindustan Coca-Cola Beverages Private Limited, InfraTech, Kalanikethan, Nagarjuna Construction, Orchid Manpower, Srishti infrabuild, Wipro,

---

About vat, service tax, tds, cenvat

0 Answers   Reliance,

---

How to calculate gross salary from bsaic payment, D.A, T.A, H.R.A?

4 Answers   DELL, Fisheries, GSI, Hyundai, Margadarsi, MPPGCL Madhya Pradesh Power Generating Company Ltd, Omethos, Wipro,

---

what is the differnce between sales tax and service tax?

9 Answers   Saifee Industries,

---

How can we treat sales to Nepal by road. Is it treated as Export ? What are the supporting documents presented to Commercial Taxes Office

1 Answers  

---

certificate of export is for which items?

0 Answers  

---

wats the journal entry for payament of Company's Income Tax & under what head does income tax comes in TAlly

2 Answers  

---

What is meaning of Advance Tax? How we will calculate? What is the %? Which form available for this? What is the penalty?

2 Answers   IBM,

---