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Reversal tds entry

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This query is : Resolved

surekha wadte (Querist)
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10 March 2012 i have passed the following entry

cwip A/c Dr.
To party
To tds

Later on i came to know that was wrong entry now i want to correct it but i have paid tds. Now will be the reversal entry for cwip

Can you please guide

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 March 2012 In case you already filed the TDS return mentioning the party PAN also, then not possible to reverse the TDS amount. reverse only to the extent of net of TDS

If you are not filed the TDS return, then you can reverse the TDS and adjust the TDS payment with other deductees if any

surekha wadte

surekha wadte (Querist)
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12 March 2012 Thank you ramesh. Actually twice time i have booked the entry. Now i want to reverse this cwip amount so i will credit to cwip but where should i debit.

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