venkat (MANAGER- ACCOUNTS) (62 Points)
21 August 2013
we got 18000/- from bank interest. tds deducted 2000/- by bank how to account? we account interest amount 18000/- (Interest Income Under Indirect Income) But how to account TDS Deduct amount 2000/-in our books .
pls give ur valuable suggestion. pls give me necessary entries.
Khushboo Somani
(Business)
(90 Points)
Replied 21 August 2013
Entry should be -
Bank a/c. Dr 18000
TDS a/c. Dr 2000
To Bank interest 20000
Vikram Bhatia
(CA Final)
(122 Points)
Replied 21 August 2013
A.JAGADEEP
(ARTICLE STUDENT)
(151 Points)
Replied 22 August 2013
Entry:
Bank a/c Dr 18000
TDS Receivable a/c Dr 2000
To bank interest a/c 20000
( debit should be give only to "TDS Receivable" only)
CAclubindia
