TDS charged is an income of expense ?

TDS deducted by the Customer and deposited in central govt.account through receipt is an income or expenditure or what?

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Susanta Ku. Mohapatra

  • Oct 17th, 2011
 

TDS is an expenses for customer.

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KOSHY

  • Feb 2nd, 2012
 

TDS is not an income or exp to the company. It is payable to the Company and company will receive cash or receivable from Customer. It is an expense to customer only

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Tarun Chauhan

  • Mar 2nd, 2012
 

TDS charged from the customer is neither an expense nor an income, It is actually a payable account which becomes a liability for a company after charging it to from customer, which a company needs to pay or deposit it to the tax department on behalf of the customer on a required time line.

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pushpabonal

  • Feb 10th, 2013
 

TDS: Is one of the mode of collecting the income tax from assesses in India ,getting deducted from the person received amount (employee deductive ) by the person paying such as (employer deduct er)

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Praveen M

  • Dec 2nd, 2015
 

Take a Example Interest income Rs. 10000, Received Rs. 9000 and TDs deducted Rs. 1000 Make following adjustments
1. Less. Rs. 10000 from P/L balance (being non-operative income credited to P/L)
2. Add: Rs. 9000 to Cash from investing activity (bring cash flow from interest)

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kathirvel

  • Feb 16th, 2018
 

TDS will be deducted by buyer from service provider ( Not a seller ). TDS is liability from buyer point of view so this TDS will be deducted from service provider and paid to govt.

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