TDS ON CASH WITH DRAW


This query is : Resolved 

Quick Summary
This discussion addresses how to record TDS (Tax Deducted at Source) on cash withdrawals made from a bank. An expert suggests debiting a 'TDS on Cash Withdrawal' account and crediting the bank account, which is the deductor, to properly account for these charges.

(Querist)
04 March 2020 DEAR EXPERTS

HOW CAN I PASS THE ADJUSTMENT ENTRIES FOR TDS ON CASH WITHDRAW.

WE WITH DRAW SOME AMOUNT FROM BANK, BANK CHARGED SUM AMOUNT FOR TDS ON CASH WITH DRAW HOW CAN I ACCOUNT & HOW TO PASS THE LEDGER ENTRIES.

04 March 2020 You can Debit TDS on Cash Withdrwal A/c and credit to the Deductor i.e. Bank A/c.

Mahenthiran (Querist)
09 March 2020 THANKS FOR YOUR VALUABLE REPLAY SIR.


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