12 May 2011
we have deducted short TDS on salary for the F.Y.2010-11.realising the shart fall, we deposit the same on 5.5.2011.now, whether we have to pass TDS deduct entry on 31.3 as salary to tds payable and on 5.5 tds payable to bank or on 5.5 prior period expense to bank
12 May 2011
SINCE SALARY ON WHICH TDS IS SHORT DEDUCTED IS SHOWN IN THE YEAR 2010-11, EVEN TDS ENTRY IS TO BE PASSED IN 2010-11. AND THE SAME IS BEING PAID IN MAY IE., BEFORE FILING OF TDS RETURN.
13 May 2011
As on 31/3 u r TDS is due and the liability is payable. Hence u should show u r liability in Payable a/c as on 31/3. And on 5/5 you have cleared the liability, hence dr the same to payable a/c against your u r payment made.... cell:9347173005
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