Accounts adjustment

This query is : Resolved

Kavita Bisht (Querist)
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22 February 2020 One company(A) had raised an invoice to their client (X) and that client has made payment to his sister concern company (B). So, now how to adjust this payment without transfer to that company(B) ?. Now, I raised the invoice from B company to A company of that amount but now I am facing the issue in TDS. If I have taken this invoice in A company and invoice amount transferred to X company but now I have required to deposit TDS and that TDS amount in debit. Please suggest how to adjust and what to do?

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GN Patankar

GN Patankar (Expert)
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01 March 2020 Dear Ms Kavita , I understand from your query that "A" has raised invoice upon "X",
now X has to pay amount to A, instead of payment to A, X had paid to "B" , Please adjust book entry between A & B by journal voucher or take cheque from B.
Issue a tax invoice upon B is not understand.
As far as TDS is concerned it has to be deduct by X only.

GN Patankar

GN Patankar (Expert)
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01 March 2020 Dear Ms Kavita , It understand from your query that "A" has raised invoice upon "X",
now X has to pay amount to A, instead of payment to A, X had paid to "B" , Please adjust book entry between A & B by journal voucher or take cheque from B.
(Issue a tax invoice to B is not understand. If there is a transactions between A & B than TDs will be in in the books of B )
As far as TDS is concerned it has to be deduct by X only of company A

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