About tds
This query is : Resolved
15 March 2015
please tell me the complete accounting treatment about tds & what is the best closing entry of this ???
15 March 2015
For eg.
Rent a/c
15 March 2015
For eg.
Rent ac 100
To Bank 90
To Tds 10
TDs ac. 10
To bank. 10
Rent ac reflect full amount TDs ac will b closed by the above entry.
16 March 2015
Thanks for reply.
if i have tds receivable account for a y 13-14 of rs.50000/- & as per income tax refund tax payable is rs.30000/- & refund is rs.20000/-,now in a y 14-15 i have received refund cheque for rs.20000/-. Now i have to close tds receivable account of rs.50000/-. Please tell me the treatment for it??????
if i have tds receivable account for a y 13-14 of rs.50000/- & as per income tax refund tax payable is rs.30000/- & refund is rs.20000/-,now in a y 14-15 i have received refund cheque for rs.20000/-. Now i have to close tds receivable account of rs.50000/-. Please tell me the treatment for it??????
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