Where does the entry of TDS payable, sale tax payable,
service tax payable will appear in Balance sheet or profit
or loss a/c?
Answers were Sorted based on User's Feedback
Answer / s d marulasiddappa
These payables are coming under Liabilities side under
Current Liabilities (statutory payables) in Balance sheet.
not in P & L.
Is This Answer Correct ? | 103 Yes | 4 No |
Answer / pankaj kumar
in b/s liability side under duty and taxes
Is This Answer Correct ? | 80 Yes | 9 No |
Answer / guest
under the head provision in balancesheet liabilities side
Is This Answer Correct ? | 43 Yes | 5 No |
Answer / shiwani vaishnav
These all entry will reflect on Liabilities side in
Expenses Payable head and will reflect Balance Sheet not
Profit & Loss A/c.
Is This Answer Correct ? | 27 Yes | 3 No |
Answer / lg srinivas
These all entries come under group (duties and tax) reflect
to balance sheet in liabilities side only These are not
expeneses There are all taxes only
Is This Answer Correct ? | 14 Yes | 1 No |
Answer / shailesh
These all the entries fallas under the head of Duties &
Taxes ( current Liabilities ) not to be shown in Profit &
loss Account
Is This Answer Correct ? | 12 Yes | 2 No |
Answer / sree
As per my knowledge These all taxe are refelect to Current
Liabilities side but its outstanding payables thats way we
consideration provisions a/c and Payables a/c only
sree
+91 9885836589
Is This Answer Correct ? | 7 Yes | 0 No |
Answer / jitendra kr.jha
This rule below indicate for an example
Assets,Losses or Expenses are debited and
Liabilities or Income are Credited
So i think it is not expenses payable rather Liabilities
payable. Exactly above payable entry will appear in Balance
sheet side.
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / amit kumar
its in balance sheet, in liability side, not in profit and
loss a/c ,it is duties & Taxes so it is current Liabilities.
Is This Answer Correct ? | 3 Yes | 0 No |
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