Tds entry in case full payment is made in advance
This query is : Resolved
13 April 2015
can anybody pls tell me what will be the entry of TDS in case full payment is made to contractor in advance.
14 April 2015
Party A/c................Dr XXX
To TDS payable XXX
To Cash/Bank XXX
When TDS would be paid
TDS Payable A/c..........Dr XXX
To Cash/Bank XXX
After when you will receive the bill from the contractor
Expense A/c...............Dr XXX
To Party A/c XXX
To TDS payable XXX
To Cash/Bank XXX
When TDS would be paid
TDS Payable A/c..........Dr XXX
To Cash/Bank XXX
After when you will receive the bill from the contractor
Expense A/c...............Dr XXX
To Party A/c XXX
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