Tds on deposits

847 views 1 replies

Dear All,

I have a small confusion. Hope to clear it out soon with your help.

1. There is a deposit in Electricity board, on which TDS has been deducted.
The entry should be an income entry right ? (The same is reflected n 26AS)
Deposit A/c     Dr  xxx   
TDS In A/c      Dr  xxx   
     To Electricity board (name) A/c   xxx

Is the above entry correct ???

 

2. There is another security deposit in the elec board.

So should the entry be
Security Deposit A/c      Dr   xxx
     To Electricity Board A/c           xxx

or anything else ??

 

Kindly help me at the earliest. Im so confused. The client hesitates to give further info. My boss doesn't help but holds the neck on the last minute.

So, kindly help.

 

 

Thanks in advance.

Replies (1)

hey,

   wat does the first entry means?? is the tds is on interest on deposit with the EB?


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