Hai,
Thanks for everyone who cleared my doubt..
Still I have a doubt... If we issue a bill and the party deducts TDS and pay the amount, What entry should i pass?
TDS
Replies (1)
Dr TDS
Dr Party(net of TDS)
Cr Sales
then
Dr Bank
Cr Party (for amount received)
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
