TDS ADJUST

I made bill to bill payment to transporter for the f.y.2017-2018, in April (2018-2019) it was realised that the TDS on payment was not deducted, than in April the TDS amount was paid by self account with interest; the challan was given to transporter & the TDS amount I paid has deducted in his April's payment. 





Now I want to know that in f.y.2017-2018 the ledger of transporter was balanced by bill to bill payment, now how I pass the entry of TDS in March-2018??? 

Please guide me. 

Clearly saying that bill to bill payment has been made in March 2018 without TDS & the TDS of the same has deposited in April 2018 with interest. 



Need to understand entry for the same in F.y 2017-18
Replies (3)
You can make following entry in your books on 31.03.2018 for late deduction of TDS

Dr Transporter A/c
Cr. TDS on Contractor
Yes... You can make entry as per Mr Jatin's reply..

At the time of entry You ll against the TDS amount which bill is outstanding as per Your books of accounts and You can close the bills...
After You ll pay balance amount to the Transporter..
thanks

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details