TDS 194R questions

jyotibikash pandab (no) (2 Points)

06 March 2025  

In this scenario, The Company has taken provision for FY 2023-24 for gold coin INR 10000. The Company released the gold coin in FY 2024-25 to a customer, ABC Ltd, who is eligible for a gold coin valued at INR 10,000. First, we deducted the TDS 10%, and after that, we released the Gold coin amount of 9000. The company purchases this gold coin from XYZ Ltd in the amount of 9000. What is the overall Accounting entry?