Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 June 2012
HOW TO ACCOUNTING OF TDS IN THE BOOKS OF DEDUCTOR ? EXPLAIN EXAMPLES................
11 June 2012
TDS is required to be deducted at the time of payment or credit, whichever is earlier.
Example 1: Bill received, payment made afterwards.
Expense A/c Dr
To Creditor
To TDS Payable
Creditor A/c Dr
To Bank A/c
TDS Payable A/c Dr
To Bank A/c
Example 2: Advance given, bill received afterwards
Creditor A/c Dr
To Bank A/c
To TDS Payable
TDS Payable A/c Dr
To Bank A/c
Expense A/c Dr
To Creditor A/c
Example 1: Bill received, payment made afterwards.
Expense A/c Dr
To Creditor
To TDS Payable
Creditor A/c Dr
To Bank A/c
TDS Payable A/c Dr
To Bank A/c
Example 2: Advance given, bill received afterwards
Creditor A/c Dr
To Bank A/c
To TDS Payable
TDS Payable A/c Dr
To Bank A/c
Expense A/c Dr
To Creditor A/c
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2012
thanks for reply
13 June 2012
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