TDS Payable on Rent
This query is : Resolved
03 April 2021
Hi sir/Madam
I have one query regarding TDS Payable on Rent, From 3 years our company not yet paid TDS on Rent, we ready to pay now TDS to Income Tax Dept. with a penalty which is applicable from IT Dept. & now my question is should I record Journal Entries for TDS Payables on Rent
Thanks in Advance
I have one query regarding TDS Payable on Rent, From 3 years our company not yet paid TDS on Rent, we ready to pay now TDS to Income Tax Dept. with a penalty which is applicable from IT Dept. & now my question is should I record Journal Entries for TDS Payables on Rent
Thanks in Advance
28 September 2021
If TDS is being deducted from rent paid, you need to credit the amount to TDS payable.
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