Tds
This query is : Resolved
02 February 2016
As per tds certificate there is minute point difference of Rs. 0.68 in one quarter . Thus not tallying as per the certificate. What should be done? Also, There is penalty for pre mature fd, what will be the entry for that in tally?
KAVIRAJA ADDANGADI
(Expert)
02 February 2016
Difference you can book Round OFF , Regarding Premature FD you can consider under bank chgs.
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03 February 2016
but the penalty has not been included in bank account so cant take bank charges. the entry which i have passed is int on fd xxx
to fd xxx
I am thinking to dedeuct that penalty amount from interest on fd for which tds is deducted. Is it correct?
to fd xxx
I am thinking to dedeuct that penalty amount from interest on fd for which tds is deducted. Is it correct?
KAVIRAJA ADDANGADI
(Expert)
03 February 2016
no you cannot reduce penalty from Interest Income , You can boo bank Charges and close books
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