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Tds on foreign payments
A Company has acquired shares of a foreign company. Foreign transfer is done after deducting TDS under Section 195. For Accounting Entry of the same TDS Payable will be Credited but Which Account will be debited??? Investment Account or Expense Account??? Kindly Resolve.
Replies (3)
Accounting entry will be :
Dr. Investment in Shares of Foreign Co. A/c
Cr. TDS Payable A/c
Cr. Bank A/c
(Being Shares of Foreign Company acquired)
Thanks & Regards
Piyush Tanwar
CA Finalist & Internal Auditor
Mobile - 9717468521
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