tds accounting

Tds receivable should be adjusted against the tax liabilthy or provision for taxation.

For example if the tax liability is Rs.5000/,  then the following entry is passed

Income tax a/c Dr.        5000

   To TDS receivable              2266

    To Provision for tax a/c      2734

If there is no tax liability at the end of the year, then the following entry is to be passed

Income tax refund a/c dr.       2266

To TDS receivable a/c                      2266

PLZ SEND ME IN EXCELL FORMAT TO CALCULATE THE TDS AMT. & CACULATE THE ALL RETURN .

PLZ SEND ME ALL IN EXCELL FORMAT TO CALCULATE THE INCOME TAX RETURNS & BALANCE SHEETS.

REGARDS

VIJAY BATRA

E-MAIL: vjay.batra @ yahoo.co.in