Tds entry
This query is : Resolved
29 January 2013
i want to ask if my clients tds is deducted under section 194d insurance commision and is displayed in 26as is there any need to make entry in 26 as while doing accounting wat will be the entry
29 January 2013
No need of entry if you have already booked TDS.
26AS shows your tax which is deposited with deptt.
So if you have made entry while getting commission then no need to enter any entry now.
but if you didn't entered any entry then you can make following entry:
Advance Tax A/c Dr
To commission income
26AS shows your tax which is deposited with deptt.
So if you have made entry while getting commission then no need to enter any entry now.
but if you didn't entered any entry then you can make following entry:
Advance Tax A/c Dr
To commission income
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