TDS Receivable Journal Entry
This query is : Resolved
14 August 2024
Res/Sir, Madam,
As per form 26AS, Our Debtor has deducted TDS under 194Q, kindly explain how its TDS receivable journal Entries.
Thanks you..
Regards,
Pooja
As per form 26AS, Our Debtor has deducted TDS under 194Q, kindly explain how its TDS receivable journal Entries.
Thanks you..
Regards,
Pooja
15 August 2024
Dr. Tax provision..
Cr. Debtor.
Cr. Debtor.
15 August 2024
Thank you Sir, for your reply, but sir after making this entry instead our liability is arise in Debtor Ledger. even TDS Receivable is our Assets.
15 August 2024
The liability is adjusted against the payment receivable. When the payment was received for the goods sold it was short to the extent of TDS deducted.
TDS is receivable, and hence it is posted to Tax provision.
TDS is receivable, and hence it is posted to Tax provision.
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