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Treatment of tds refund in case of atrust
hello
i want to know that what is the treatment of tds refund in case of trust in tally &under which group ledger of tds is require to creat.
Replies (1)
Zuber,
The right treatment is, it has to be squared off against TDS Receivable Account, showing in your Balance Sheet on Loans and Advances, on assets side. Journal Entry would be -
Bank Account ------------- Debit
To Tds Revceivable Account (AY XXXXXX) -------------- Credit
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Jahir Mansuri
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