TDS

This query is : Resolved

Nitin Bhatt (Querist)
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22 February 2011 Dear all,
pls clarify the entries which is to be passed if we have DR balance running in 31.03.10 of TDS Payale .

how can we adjust the same in current f.y
we have deposited the TDS last year (31.03.10) but tds payable enties were not passed. so in audit balance sheet tds payable DR balance is running how can we set off the same in current year or should we carrie forward the same into next financial year.

thanks
nitin bhatt

S.A.BADAMIKAR

S.A.BADAMIKAR (Expert)
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22 February 2011 Pass the following entry : Debit the party & credit the TDS Payable account (which is showing debit Balance) & Clearly mention in narration regarding the happenings.