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Where does the entry of TDS payable, sale tax payable,
service tax payable will appear in Balance sheet or profit
or loss a/c?
- 12 Answers
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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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Audit 
