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Journal entry for interest paid on tds


Rehan Ahmed (Accountant)     29 June 2016

Rehan Ahmed
Accountant 
 40 points

| My Other Post

Dear All.

 

I want to know journal entry for interest paid on TDS. Because we cannot treat it as expense so kindly provide me journal entry. 

avater

Poornima Madhava (ACMA)     29 June 2016

Poornima Madhava
ACMA 
 513 likes  5579 points

View Profile | My Other Post

Interest on TDS Dr

To Bank A/c

For accounts, Interest is expense only but for the purpose of income tax, it is a disallowed expense.

avater

Rehan Ahmed (Accountant)     09 August 2016

Rehan Ahmed
Accountant 
 40 points

View Profile | My Other Post

Thank you for your reply.. then also tell me how to make entry that it will not show in P/L account for income tax purpose

avater

Shrihari B (accountant)     31 October 2019

Shrihari B
accountant 
 22 points

View Profile | My Other Post

DEAR SIR/MADAM,

PLEASE INFORMING THE PASS JOURNAL ENTRY & PAYMENT ENTRY FOR TALLY ERP9

*LATE FEE TDS INTEREST PAID *

ONLY PAYMENT ENTRY OR NOT.

JOURNAL ENTRY REQUIRED NECESSARY OR NOT.

HOW CAN LEDGER TALLY BOTH.

 

 


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