Tds treatment of company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2013
Dear,
the tds of company has been deducted e,g 20,00,000 and my IT liability is 15,00,000
in above case what will be the treatment in tally for tds deducted which is on assets side ..
please tell me the accounting entry with explanation with e.g...
thanks
the tds of company has been deducted e,g 20,00,000 and my IT liability is 15,00,000
in above case what will be the treatment in tally for tds deducted which is on assets side ..
please tell me the accounting entry with explanation with e.g...
thanks
CA Parul Saxena
(Expert)
11 September 2013
Make provision:-
Income tax (P & L)Dr............1500000
To Provision for Income tax......1500000
Adjust tds against provision:-
Provision for Income tax Dr.........1500000
Refund receivable...................500000
To TDS deducted..................2000000
Income tax (P & L)Dr............1500000
To Provision for Income tax......1500000
Adjust tds against provision:-
Provision for Income tax Dr.........1500000
Refund receivable...................500000
To TDS deducted..................2000000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
