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Entry for tds receivable
Hi
We have raised invoices to client for services in the FY 2015-17. The client hasn't settled the invoices and also didn't deposit TDS to govt so it is not reflecting in our 26AS. When should we pass tds receivable entry, while booking the income OR receipt of money?
What if the payment is received in the FY 2016-17.
Replies (1)
TDS receivable should be entered in books on raising of invoices only...
Now that you received amount now, you can take the TDS credit in current year.. However, this is a wrong method of accounting
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