About tds

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WAGHARALKAR

WAGHARALKAR (Querist)
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15 March 2015 please tell me the complete accounting treatment about tds & what is the best closing entry of this ???

CA ANILKUMAR B.COM ACA DISA

CA ANILKUMAR B.COM ACA DISA (Querist)
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15 March 2015 For eg. Rent a/c

CA ANILKUMAR B.COM ACA DISA

CA ANILKUMAR B.COM ACA DISA (Querist)
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15 March 2015 For eg. Rent ac 100 To Bank 90 To Tds 10 TDs ac. 10 To bank. 10 Rent ac reflect full amount TDs ac will b closed by the above entry.

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WAGHARALKAR

WAGHARALKAR (Querist)
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16 March 2015 Thanks for reply.
if i have tds receivable account for a y 13-14 of rs.50000/- & as per income tax refund tax payable is rs.30000/- & refund is rs.20000/-,now in a y 14-15 i have received refund cheque for rs.20000/-. Now i have to close tds receivable account of rs.50000/-. Please tell me the treatment for it??????