How to pass tds entry on cash withdrawal
This query is : Resolved
24 March 2020
hi sir,
this is santhosh from hyd i need one help this current year from our company 1 crore above cash withdrawal-ed by bank they are deducted 2% tds how to pass tds entry on cash withdrawal in tally pls do help
this is santhosh from hyd i need one help this current year from our company 1 crore above cash withdrawal-ed by bank they are deducted 2% tds how to pass tds entry on cash withdrawal in tally pls do help
24 March 2020
Hi,
is the Tds seperately debited from bank account?
If yes then
Tds Asset -2019-20 FY A/c Dr
To Bank
24 March 2020
Cash A/c Dr.
TDS A/c Dr.
To Bank A/c
TDS A/c should be grouped under Asset.
TDS A/c Dr.
To Bank A/c
TDS A/c should be grouped under Asset.
26 March 2020
But when cash and bank both comes in an entry then it will be contra entry and Tds can't be passed in the same entry in practice
05 May 2020
We can tweak Tally ERP a littile to get the CONTRA Entry posted with TDS Effect otherwise we can also post the entry as Journal Voucher.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Rental income of jointly held property
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
