vinayak c. chavan (CPT passed) (1011 Points)
26 November 2012I have deducted TDS on interest on loan given to directors.
I haev passed entry as:
Interest on loan Dr. 5000
to direcotor 4500
to TDS on intrest 500
Is above entry is correct?
How director will record this entry in his book?
balaji
(pavagada)
(55 Points)
Replied 26 November 2012
Nithin Chettoor
(Assistant Manager)
(388 Points)
Replied 26 November 2012
Director will record it by the below entry
Company A/c Dr 4500
TDS receivable A/c Dr 500
To Interest on Loan Advanced to company A/c 5000
CA.Varalakshmi.M
(Manager-Finance)
(482 Points)
Replied 27 November 2012
| Originally posted by : Nithin Chettoor | ||
 |
Director will record it by the below entry Company A/c Dr 4500 TDS receivable A/c Dr 500 To Interest on Loan Advanced to company A/c 5000 |
 |
Agreed
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