tds accounting

when TDS deducted from me how do I account for tds (deductee point of view) and how should I close the entry at end of the year

for instance,

suppose iam contractor, I have performed the contract and paid bill to me after deducting tds @ 2.266% on Rs100000

bank a/c  Dr 97734

tds receivable a/c Dr 2266

                To  deductor A/c   100000

how  I should close the tds receivable a/c at the end of the year