Tds on fd

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2012 What will be the entry of TDS on FD?
Shall I enter it in the capital A/c?
And if I enter it in the capital A/c, will there any problem??
Guide me...

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2012 I think it will be treated as an expense in the p/l a/c...

CA Prashant Gupta

CA Prashant Gupta (Expert)
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09 July 2012 if you have giving interest on FD and deducting TDS then

Interest on FD A/c Dr
To FD No

FD no A/c Dr
To TDS payable

if you are getting interest on FD then

Bank A/c Dr
TDS receivable A/c Dr
To interest on FD

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