What should be the entry for TDS deducted by bank on Interest (FD)
OPlease guide
Menu
Accounts
Replies (4)
Dr. FD Account - Rs. 100
Dr. TDS on FD Interest - Rs 10
Cr. Interest on FD - Rs. 110
Dr. TDS on FD Interest - Rs 10
Cr. Interest on FD - Rs. 110
RAJA P M give a correct answer but remember FDR's are our assets and in case of TDS deducted, we will either apply for TDS refund or adjust it from its related financial year Income Tax Liability. So both will be shown in B/s Asset Side. Interest is our revenue & will be shown in P&L account.
Keep the same in mind when creating ledgers & posting the entries.
www.Jobsrock.in
Thank you very much sir
You are welcome Mr Randhir.,
Also I agreed to Mr Ashish Kumar...
Also I agreed to Mr Ashish Kumar...
Recent Topic
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
Related Topics
CAclubindia
