Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2013 hi sir...... my doubt is....when we raise invoice to a debtor....we include 'TDS receivble' in entry..... when we will have to deposit that TDS amount to govt.??
similarly, when creditor raise a invoice to us... we include 'TDS payble' in entry...... is the TDS payble will paid to creditor or to Govt.?? and when ew will have to pay?? plz help me sir.....

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 December 2013 1. For TDS receivable position in case of debtor, it is the debtor, and not you, who has to deduct taxes and deposit it with government. The receivable entry is created for TDS credit.

2. In case of creditors, you need to deduct and deposit the taxes with government.

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