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TDS REFUND

110 views 1 replies

Gagan Kaushik

96 Points Joined July 2020

TDS refund ko Income tax se kaise set off kiya jate hai aur iske entries kaise pass ki jate hai tally me aur kon kis head me aata hai
Please Explain.

Replies (1)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Joined November 2019

TDS amount should be taken from the statement of 26AS and that amount should be filed in TDS deducted column in ITR return.

Entry of TDS

At the time of provision

Nature of payment a/c dr
to Party a/c
to TDS payable a/c

at the time of payment

Party a/c dr
to Bank a/c

TDS payable a/c dr
to Bank a/c