Dear Sir,
I made Provision Exp. for labour in f.y. 14-15 and tds deducted f.y.14-15 than i exp. booked in f.y. 15-16 so tds how can i adjested ?
pls. expalin with entry
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Tds provision entry
Replies (1)
1st entry - Labour charges 100 Dr
TDS Cr 2
Provision for Exp Cr 98
Subsquently you would have paid TDS on its due date so it will be nullified with bank entry
2nd entry
Provision for Exp Dr 98
Labour Expenses Cr 98
since it pertains to the previous year
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