Adjustement entry of Opening TDS payable not deposited to Govt

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Chartered accountant
70 Points Posted on 09 February 2021
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On 09 February 2021 at 10:51 Report
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This discussion clarifies the accounting treatment for opening TDS payable balances. It explains that TDS payable represents tax deducted but not yet remitted to the government. The correct procedure involves debiting the TDS payable account when the payment is actually made to the government.

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3924 Points Posted on 09 February 2021
Why not payable to GoVT Account .?.
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On 09 February 2021 at 11:15
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17269 Points Posted on 09 February 2021
TDS payable means TDS deducted but not paid to Government. Debit TDS payable when paid off.
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On 09 February 2021 at 23:32

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