TCS on foreign remittance

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Student
40 Points Posted on 26 August 2022
What is the journal entry to be passed for recording TCS on foreign remittance made.
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On 26 August 2022 at 16:49 Report
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Quick Summary
This discussion explores the correct journal entry for recording Tax Collected at Source (TCS) on foreign remittances. It clarifies whether the entry should be classified as an investment or based on the remittance's purpose, and how to debit TCS to cash.

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GST Practitioner & Accounts
15140 Points Posted on 26 August 2022
Is it Investment or what purpose money remitted?.
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On 26 August 2022 at 18:40
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Chartered Accountant
86505 Points Posted on 01 September 2022
TCS
To Cash
3 Reply
On 01 September 2022 at 06:40

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