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why is TDS treated as an asset while preparing Balance
sheet.
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Answer Posted / satyaki_raju@yahoo.com
The question poster Kum/Smt kalpana placed a confused question.The question should be very clear.The clear question must be like this--Why is TDS receivable placed under asset in balance sheet
More over all the above three answer posters answered as they liked
Now we will discuss about the answer
TDS from our service charges or interest receipts will be deducted at source and will be deposited in the deductees account.The amount of TDS so deducted wiil be credited to our account.While filing our income statement we can deduct the amount of TDS from the tax liabilty.So until that period it will be put under asset side of the balance sheet as deposit asset group.
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