06 September 2023
Purchased asset and transfered xxx amount from our savings acc to sellers acc without deducting 1% TDS.we paid that 1% TDS, let' say 12,000 from our savings acc to IT for TDS.Later seller refunded that 12,000 amount by cash to us.
How we have to record journal entries this entire process in book of accounts.plz reply experts.
CAclubindia
