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accounting entry
sir aager humne loan liya ho or hum intt paid kar rahe tou tds konse section se katega or kya entrys hogi plse .500000 @ 3PERCENT PAR LIYE HAI.
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TDS deducted u/s 194A
Interest A/C
To Bank A/c
To TDS Payable A/C
Interest A/C
To Bank A/c
To TDS Payable A/C
interest a.c. dr. 15000
party cr. 13500
tds payable. cr. 1500
party cr. 13500
tds payable. cr. 1500
However individuals are not liable to deduct TDs on interest u/s.194A. Firms, companies are liable to deduct TDs on interest u/s 194A
Individuals & HUF who are liable to get your account audited then you are liable to deduct TDS.
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