I have deducted TDS on interest on loan given to directors.
I haev passed entry as:
Interest on loan Dr. 5000
to direcotor 4500
to TDS on intrest 500
Is above entry is correct?
How director will record this entry in his book?
Menu
Journal entry for tds deduted on interest on loan
Replies (4)
Yes, The above entry is correct.
Tds receivable a/c. 500
company a/c. 4500
to Interest a/c. 5000
Director will record it by the below entry
Company A/c Dr 4500
TDS receivable A/c Dr 500
To Interest on Loan Advanced to company A/c 5000
| Originally posted by : Nithin Chettoor | ||
 |
Director will record it by the below entry Company A/c Dr 4500 TDS receivable A/c Dr 500 To Interest on Loan Advanced to company A/c 5000 |
 |
Agreed
Recent Threads
- E way bill for rejected and re sold goods.
- Supporting Documents Required for GST Notice on Cr
- Exporting USA made goods from India Back - Applica
- Foreign Dividend earn
- TDS on Salary deducted but not paid by the employe
- GST INVOICE NOT SHOWN IN GSTR 1
- Turnover in AIS summary
- How to treat unutilised capital gain account schem
- What to do / how to handle about Capital receipt s
- How to show SGB interest in iTR
Related Threads
CAclubindia
