Entry regarding tds receivable

Hi friends,

We have made the following entries with reference to Income for the financial year 2010-11

Due entry for customer

Customer a/c    100

   Incomea/c          100

When we received the money from customer

bank a/c         95

customer a/c     95

but  we forgot to make the following entry (TDS paid by the customer appears in form 26AS for the financial yr 2010-11)

tds receivable a/c  5

customera/c              5

so that there is debit bal in customer a/c and we have paid more income tax to the Govt. for the same f/y as we haven't considered the TDS deposited by customer.

we want to ser off the customer a/c for the f/y 2011-12 .

how to rectify the previous year mistake?what is the entry...

 

 

Replies (4)

Hi guys please helppppppppppppp.....

you can create another a/c say TDS receivable 2010-11 A/c and then pass the entry.

and you can also claim that TDS in this year.

Thank you Ashish.

Ok entry would be like this

TDS receivable -2010-11

      to customer a/c 

can we claim previous year TDS receivable against income tax expense for this year ?

yes you can claim the previous year tds in this year.

just place the amount of tds in different account so it would be easily recognize..

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
13 November 2026
Accountant

New Mobile India

Muzaffarpur

B.Com

View Details
Company
12 November 2026
Tax Product Specialist

BharatX.ai

Gurgaon

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
10 November 2026
Direct Tax Manager

CAAQ CONSULTANCY PVT LTD

New Delhi

CA Final

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details