Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2014 A Firm receives interest income on security deposited with X co..

but wrongly a partner has given his own PAN and bank account no. to X co. and X company has deposited the interest amount in partner's personal bank account and deducted tds thereon and deposited in partner's pan no.

Now please tell me by what accounting treatment this error can be ractify?
Please ask if you need some extra information to solve the query.

Thanks

@VaibhavJ

@VaibhavJ (Expert)
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11 October 2014 Yoc can show amount as loan given to partner & get money back from him.

Provide correct data to co. so that in future all goes well..

Thanks