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Tds

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(Querist)
18 October 2014 Sir,

TDS Claim from int. on loan is credited with intrest recieved A/C . so it affects the P/L A/C. It is Right or wrong ?
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@VaibhavJ

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@VaibhavJ (Expert)
18 October 2014 TDS on Int is not routed thru P&L A/c.

Entry for TDS receivables:

TDS on Int. A/c Dr..
.. To Int on Loan Receivables

Entry for Int ..
Int on Loan Receivables A/c dr..
..To Int on loan (Income) A/c

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