Tds
Querist : Anonymous
While receiving the amount under contract basis from a particular party, that particular party pays the amount after deducting the TDS. Whether can we claim that deduction made by that party.How this TDS amount accounted in our books of accounts??
Is it shown as an asset?
Pls someboby reply me soon Its urgent.
when you book due entry
party a/c dr.
to sale/service name
when you receive payment
bank / cash a/c dr
tds a/c dr.
to party
and you should keep tds account under assets group
Querist : Anonymous
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