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What is TDS ? How its entry will be passed in accounting
book ?
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Answer / umesh kulkarni
tds means tax deducted sources .
party A/c ... dr
to tds A/c cr
when it pay in bank
tds a/c .. dr
to bank A/c cr
| Is This Answer Correct ? | 17 Yes | 2 No |
TDS means Tax Deducted Sources .
At the time of Deduction :-
{1}Party A/c will be Debited
TDS Payable A/C will be Credited
{2} After deposit in Bank
TDS Payable A/C will be Debited
Bank A/C will be Credited
Every month 7th is last day for submission of TDS amount
for previous month deduction amount
| Is This Answer Correct ? | 7 Yes | 0 No |
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