Poonawalla fincorp
Poonawalla fincorp

Accounts entry

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2012 tds AMOUNT IS RS. 500, BUT LATE FINE IS 21/- WHAT WILL BE THE ENTRY
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
17 July 2012 TDS Payable 500 Dr.
Interest on TDS 21 Dr.
To Bank A/c 521
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
17 July 2012 you craete one account called Int on Late Payment(TDS) or interest a/c(under Head of Finance Charges)

So you can debit Rs 21 to Interest account
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