IF WE PAID TDS ON INTEREST ON 31/03/19 FOR M/O MARCH 19 & ALSO APRIL 19 THEN :-
WHAT IS TRANSACTION FOR PAYABLE AMOUNT:---
PROVISION AMOUNT:---
PAID AMOUNT:---
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Tds on interest
Replies (6)
Are you paid TDS (TIN) in 31st March...?
Are you paid interest on 31st March...?
Are you paid interest on 31st March...?
YES FOR M/O MARCH 19 AND IN ADVANCE FOR M/O APRIL 19
Can't understand... Can you elaborate with some more details of your transactions...?!
TDS OF MARCH ON RS 1 LAKS @ 10%--- 10000 THAT PAID ON 31/03/19.
TDS OF APRIL ON RS. 1 LAKS @ 10%-- 10000 THAT ALSO PAID IN ADVANCE ON 31/03/19.
ABOVE TDS IS ON DUE AMOUNT.
Interest Dr.
To Loan Ac
To TDS Payable
TDS Payable Ac. Dr
TDS Deposit in advance Ac. Dr.
To Bank.
To Loan Ac
To TDS Payable
TDS Payable Ac. Dr
TDS Deposit in advance Ac. Dr.
To Bank.
TDS need to be paid before the 7th of next month. i.e for the month of April the TDS should be deposited by 7th of May. In case of delay, an interest rate of 1.25% per month for o/s TDS amount need to be paid.
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