Accounting treatment on withholding tax paid.
This query is : Resolved
23 June 2013
Which account should be debited in case of withholding tax paid on Interest u/s 195 of Income Tax Act 1961?
23 June 2013
TDS need to debit party account normally. in case if you are compensating the TDS then particular expenses a/c
23 June 2013
Interest a/c Dr
To party
Party Dr
To Bank
" TDS
TDS Dr
To Bank
To party
Party Dr
To Bank
" TDS
TDS Dr
To Bank
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