TDS Receivable Entry in Books of accounts

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44 Points Posted on 22 January 2025

Hi Sir

Can i make TDS Recivable entry at the time of making Sales entry or at the time of receipt entry

Please advise 

Also request you to advise TCS Payble entry if there is a sale of Rs. 5,00,000

 

Thanks in advance

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On 22 January 2025 at 22:53 Report
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Quick Summary
This discussion clarifies the correct timing for booking TDS receivable entries. It explains that TDS receivables can be recorded either at the time of the sales entry or upon receipt of payment. The thread also provides guidance on how to record TCS payable entries, particularly in relation to sales transactions.

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161 Points Posted on 23 January 2025

Sales entry when TDS

Sundry receivables      Ac dr

TDS Receivables.         Ac dt

To  sales

Sales entry when TCS

Sundry receivables.   

To  TCS payable

To.    Sales

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On 23 January 2025 at 08:18
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12 Points Posted on 23 January 2025

You can make TDS receivable entry on the date of sale or as on invoice date. 

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On 23 January 2025 at 11:02

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