HI All,
Please anyone tell me the accounting treatment of TDS Payable.
Thanks & Regards,
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Accounting treatment of TDS Payable
Replies (2)
Example:
Audit fees = Rs. 100
TDS Rate is 10%
Journal entry
Audit fees a/c 100
To Party's Name a/c 90
To TDS Payable a/c 10
when you pay TDS to the govt
TDS Payable a/c 10
To Bank a/c 10
i agreed with above question
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