what is the entry for tds payables and tds receivables? need immediate reply
CA Surajit Kashyapi
(Chartered Accountant)
(112 Points)
Replied 01 December 2008
Manish
(Service)
(23 Points)
Replied 02 December 2008
| Originally posted by :Chellam | ||
| " | what is the entry for tds payables and tds receivables? need immediate reply | " |
The entry for TDS payable will be
Exps Dr
To Bank
To TDS Payable
And for payment of TDS
TDS payable
To Bank
For TDS Receivable
Bank Dr
TDS Receivable Dr
To Income
The amount of TDS receivable will get nullified at the time of assessment
Chellam
(ICWA Inter)
(72 Points)
Replied 03 December 2008
Plenty of thanks 4 you all For helped in this regards.hope u do the same in future......
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
