entries
This query is : Resolved
23 November 2010
1) Interest A/c Dr
To Party....
2) Party A/c Dr.....
To TDS payable(If TDS Attracted)
3) Party A/c Dr......
To BAnk...
To Party....
2) Party A/c Dr.....
To TDS payable(If TDS Attracted)
3) Party A/c Dr......
To BAnk...
23 November 2010
one for booking the exenses second for deduction of TDS if any and third for making payment.
23 November 2010
If paid
Debit Interest
Credit Cash / Bank
If accrued & then paid,
Dr.Interest
Cr. Party
pass a JV on accrual
when paid
Dr.Party
Cr. Cash / bank
If interest exceeds the limit, also deduct TDS at the time of JV or Payment whichever is EARLIEST.
Debit Interest
Credit Cash / Bank
If accrued & then paid,
Dr.Interest
Cr. Party
pass a JV on accrual
when paid
Dr.Party
Cr. Cash / bank
If interest exceeds the limit, also deduct TDS at the time of JV or Payment whichever is EARLIEST.
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