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A/c head in which interest on tds should be debited ?

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arun laxman gaikwad

arun laxman gaikwad (Querist)
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05 March 2014
We have paid interest in the cur fin.year 2013-14 on TDS for the FY 2009-10, 2010-11, 2011-12 and 2012-13 as per various tds demand notices recd in cur.year.

To what a/c should this be debited ?
Prior period exp or interest exp.in current year ?

Pls tell the appropriate a/c head under p&l.

Thanks & Rgards
Arun

Ganeshbabu K

Ganeshbabu K (Expert)
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05 March 2014 Debit to Ledger(Interest on TDS) with adequate Narration by providing details of demand notice for which it is paid

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