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1. Is TDS asset or Liability ?.
2. Is TCS Asset or Liability ?.
3. Which is Debit side and Which is Credit Side in Balance
Sheet ?.
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Answer Posted / gyansaxena
In the Balance sheet have liablities and assets side not
dabit & credi
Tds deducted by us is always liablity (Payable)shown in
liability side of Balance sheet.
TDS deducted by party is always Assets. (Receiavable)shown
in Assets side of Balance sheet.
TCS Collected by us on sale of scpap ( u/s 6CE) is always
liablity (Payable)shown in liability side of Balance sheet.
TCS deducted by Party is always Assets. (Receiavable)shown
in Assets side of Balance sheet.
| Is This Answer Correct ? | 44 Yes | 4 No |
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