Hey Frnds.
Cash withdrawal pr bank jo TDs deduct krta hai uski journal entry kya hogi tally me plz tell me dear's
If TDS deducted under section 194N of the Income Tax act 2961 then entry will be as follows.
Cash A/c Dr
TDS on withdrawal A,/c Dr
To Bank. A,/c Cr
(Being TDS deducted by Bank for withdrawal of cash under section 194 N)
TDS on withdrawal A/c ,under loan's and Advance , Asset side Balance sheet .
CAclubindia
