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.