Under which head does tds by banks come?

it will neither come in pl neither balance sheet, prepeare tds statement, calculate the net tax to be paid while filing itr and deduct the tds and pay the balance amount, the total tds to be paid will come in p&l. wait for expert answers too

TDS Receivable will be shown under "Other Asset " of "Current Asset" in your Balance sheet .

TDS receivable is a sort of Advance tax paid on your Behalf by the Bank.

See the Entry:- (Suppose Intrest is 50000 & Tds is 5000) 

End of Financial Year 12-13(Assuming intrest will be recieved after the end of Fiancial Year, Which usually happens in Practical Life)

Intrest receivable A/c Dr.    50000

      To Intrest Income                                           50000

(Being amount Due)

Intrest Income A/c Dr.

   To P&L

(Being Income Booked)

Intrest received after F/Y 12-13 (i.e Beginning of F/Y 13-14)

Bank A/c Dr.                                  45000

 TDS Receivable A/c Dr.                 5000         

     To Intrest Recivable                              50000

(Being Amount Received)

The amount of TDS recivable will be adjusted against Income tax Payable.

Supoose your income tax payable is 60000

Entry would be 

Income Tax Payable A/c  Dr.        60000 

        To TDS receivale                                    5000

        To Bank                                                 55000

(I hope you will find it Helpful)

P & L - Book Gross Amount (including Interest) in your P & L Account as Interest Income;

B S - Since you received only net amount (net of TDS) from your Bank, the TDS portion is still due. It is a accrued Income Due and hence Current assets under as "TDS Receivable"