TDS Adjusstment

Jigar (B.Com) (153 Points)

25 October 2021  

One of our Client on 23.04.21 Paid Rs. 60,000.00 to his service provider after deducting Rs.450 (0.75% By Mistake In Place of 1%) as TDS by Cheque.

But We asked him to deposit Rs.600 (1% @ 60000)as TDS deducted in IT Government Bank account (For 1st QTR.), and to adjust the difference amount (600-450=150) in his next transaction with such service provider.

On 15/08/21 He paid again to same service provider Rs.10,000 in cash. (Without TDS)

&  

On 18.08.21 Rs.60000 by cheque after deducting TDS Rs. 850.00 (100 (1% @ 10000) + 600 (1% @ 60000) + 150 (Old Difference))

How to Pass Its Accounting Entries ????