Tds entry

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Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2013 i wanted to know the entry to be passed for recording TDS under sec 194A based on form 16A

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 July 2013 Entry should have been passed when payment was received.

Say interest amount Rs 100. TDS deducted Rs 10 and payment received Rs 90.

Entry to be passed:-

Bank A/c Dr Rs 90
TDS Receivable A/c Dr Rs 10

To Interest A/c Rs 100

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2013 They have not received d interest,instead it has been reinvested in the FD.then what should be d entry

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 July 2013 FD A/c Dr Rs 90
TDS Receivable A/c Dr Rs 10

To Interest A/c Rs 100

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