What will be journal entry for TDS deducated from an
freight payment of RS. 15000.00 , applicable TDS rate is
2.266%
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Answer Posted / mahendra
FREIGHT A/C DR 15000/-
TO TDS PAYABLE A/C 340
TO PARTY A/C 14660
(BEING AMOUNT OF FREIGHT CHARGE)
TDS PAYBLE DR 340
TO BANK/CASH 340
(BEING TDS DEPOSIT )
PARTY A/C 14660
TO CASH/BANK 14660
(BEING PAYMENT AGST BILL NO----)
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