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How to pass tds entry on cash withdrawal

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(Querist)
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
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Eswar Reddy S

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Eswar Reddy S (Expert)
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
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Spurto Consultancy Services

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Spurto Consultancy Services (Expert)
24 March 2020 Cash A/c Dr.
TDS A/c Dr.
To Bank A/c

TDS A/c should be grouped under Asset.



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Eswar Reddy S

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Eswar Reddy S (Expert)
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
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Asha Kanta Sharma

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Asha Kanta Sharma (Expert)
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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