Investment in Bit Coin (crptocurrency)


This query is : Resolved 

Quick Summary
This discussion addresses the accounting treatment for investing in Bitcoin, specifically concerning Tax Deducted at Source (TDS) under Section 194S. It suggests journal entries to record the investment, the TDS deducted, and the bank transaction. The proposed entry is Debit Investment in Bitcoin, Debit TDS deducted, and Credit Bank.

02 March 2023 Dear Sir

Proprietor invest some amount in Crpto ( Purchase of Bit coin ) TDS deducted under 194S please suggest entry in books of account and treatment of TDS

02 March 2023 Dr. Investment in Bitcoin
Dr. TDS deducted.
Cr. Bank

02 March 2023 Thank you Very Much Sir,

02 March 2023 You are welcome.


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