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Journal entry for interest paid on tds


Rehan Ahmed (Accountant)     29 June 2016

Rehan Ahmed
Accountant 
 40 points

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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. 

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Poornima Madhava (ACMA)     29 June 2016

Poornima Madhava
ACMA 
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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.

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Rehan Ahmed (Accountant)     09 August 2016

Rehan Ahmed
Accountant 
 40 points

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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

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Shrihari B (accountant)     31 October 2019

Shrihari B
accountant 
 22 points

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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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