Accounting treatment on withholding tax paid.

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Sachin Sanjay Vadgave (Querist)
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23 June 2013 Which account should be debited in case of withholding tax paid on Interest u/s 195 of Income Tax Act 1961?

CMA Ramesh Krishnan (Expert)
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23 June 2013 TDS need to debit party account normally. in case if you are compensating the TDS then particular expenses a/c

Bhaskaran Chackrapani Warrier (Expert)
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23 June 2013 Interest a/c Dr
To party

Party Dr
To Bank
" TDS

TDS Dr
To Bank

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