I have a query regarding TDS. I have made payment to contractor without deducting TDS. However I have made the TDS filing for the same. Now how I should adjust the TDS amount which is yet to recover from the contractor.
Journal entries for the same.
To TDS Expense A/c Cr. (Provided you have made the below journal entry at the time of payment of TDS Payable without deducting from the Contractor)
TDS Expense A/c Dr.
To TDS Payable A/c Cr.