How to pass tds entry on cash withdrawal
This query is : Resolved
Quick Summary
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.
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