Dear Sir,
IF party make advance payment FY 16-17 and also deduct TDS in FY 16-17 but i have not book bill in FY 16-17 i am book bill FY 17-18. Also pay Service tax in FY 17-18. then how to show TDS amount in FY 16-17? pls rply
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Advance payment
Replies (2)
first of all, service tax should be paid on advance basis so you should've paid this in FY 2016-17 and for your TDS credit you can carry forward your credit in income tax return.
Hi...
In 16 17 you would have passed entry like this
Bank dr
TDS rcbl dr
to Party a/c
so in 17 18
pass normal journal entry like
Party a/c dr
to sales a/c
Now when you realise the credit of TDS, reverse the entry...that's all...
In 16 17 you would have passed entry like this
Bank dr
TDS rcbl dr
to Party a/c
so in 17 18
pass normal journal entry like
Party a/c dr
to sales a/c
Now when you realise the credit of TDS, reverse the entry...that's all...
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