Practice mode Accounting

Where does the Tax Deducted at Source account appear?

Correct answer D. Assets side

Explanation

TDS deducted by others from the business's income can be claimed back or set against tax due, so it is shown as an asset in the balance sheet.

Report a problem

Answer checked How we write and check questions

Tip: press A, B, C or D to answer, and N for the next question.

Advertisement

Have a question about this answer?

Your email address will not be published. Required fields are marked *

Links and website addresses are not allowed in comments.