Demand of tds

This query is : Resolved

Akhilesh (Querist)
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18 January 2012 I received a demand notice from IT dept regarding short deposit of TDS in FY 2009-10 relating to some parties. What accountinf entries i have to passed regarding this short deduction of tds not related to current financial year.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 January 2012 It can be debited only as Penalty under expenses

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 January 2012 TDS on Regular Assessment (AY.......) Dr.(Keep this account under the head Indrect Expenses)

To Bank A/c....
(Being amount paid in accordance with demand raised on account of short deduction of TDS for the AY......)

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