I am working in company where I am handling individual account and cos account. now in case of individual when they receive dividend on equity shares and tds deducted thereon what entry one should one must pass in his personal account. for eg xyz com. has declared dividend on shares of 5000 @ 5.00 what entry one should pass. note individual is not maintaining the shares account.
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Quick Summary
This discussion clarifies the accounting entries required when an individual receives dividends on equity shares with Tax Deducted at Source (TDS). It explains the journal entry to be passed in the books of the recipient, debiting the bank account and TDS on dividend account, and crediting the dividend received account. The thread also addresses why TDS might be deducted at 20% and advises on claiming back deducted TDS, particularly if the PAN was not provided to the company.
Sir ,there is TDS deducted @ 20% on Dividend for the Year ended 31/03/2020 what should be the reason? and if in case my PAN is not updated with company can i claim the deducted TDS later ?