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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 June 2012 HOW TO ACCOUNTING OF TDS IN THE BOOKS OF DEDUCTOR ? EXPLAIN EXAMPLES................
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 June 2012 thanks for reply
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
13 June 2012 You are welcome. You should use the thanks button to convey your thanks.
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