Entry for interest received from electricity security
This query is : Resolved
05 September 2017
Please help me
Mr. A received Interest of Rs. 74865/- on Security Deposit from Electricity Company and TDS to be deducted @10%
What is the entries in the books of A for both Interest and TDS.
Mr. A received Interest of Rs. 74865/- on Security Deposit from Electricity Company and TDS to be deducted @10%
What is the entries in the books of A for both Interest and TDS.
Ashiwini Ballodia
(Expert)
05 September 2017
Bank Ac DR 67378.5
TDS Receivable DR 7486.5
To Interest on Security Deposit 74865
TDS Receivable DR 7486.5
To Interest on Security Deposit 74865
Ashiwini Ballodia
(Expert)
06 September 2017
In Profit & Loss it should be shown as indirect income & in ITR is should be shown as Income form other sources
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