Interest on tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 June 2014 What is the entry for interest on TDS and under which head it is to be shown in Tally?

17 June 2014 you may create separate head INTEREST ON TDS and charge to profit & loss as indirect expenses (it will help you in filling ITR as interest on TDS is not allowable)

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Querist : Anonymous

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17 June 2014 Thanx for the confirmation actually i also charged it to indirect expense but i was not sure and thanx again

17 June 2014 you are welcome


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