Accounting treatment on withholding tax paid.
This query is : Resolved
Sachin Sanjay Vadgave
(Querist)
23 June 2013
Which account should be debited in case of withholding tax paid on Interest u/s 195 of Income Tax Act 1961?
CMA Ramesh Krishnan
(Expert)
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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