Demand of tds
This query is : Resolved
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.
18 January 2012
It can be debited only as Penalty under expenses
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......)
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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