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TDS
we need to pass TDS entry after making payment or we can pass TDS entry on the reciept of bill on which tds need to be deducted?
Replies (2)
Dear Rohit,
When you receive a bill, u would naturally put a journal entry in ur books. U have to put an entry for TDS at that time itslef. U must not wait till the amount s paid. However, tds on salary (sec.192) must be deducted at the time of payment only
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