Hello there,
We haven't deducted the TDS for vendor and paid the full amount. and later on we realized and paid TDS with interest....and now we want to claim that TDS amount from vendors...if they are ready to pay that amount what will be the entry that we have to give in our account books and if they are not ready to pay the amount what would be the entry...Plz help us
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TDS not deducted
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If no accounting entry at the time of making T.D.S payment to department then: By Recipient A/c To T.D.S Payable A.Y: 2020-2021. If accounting entry passed while making T.D.S payment then By Recipient A/c To T.D.S Paid / T.D.S Payable (Account debited at the time of making T.D.S payment to department before rectification).
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