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

Answer / sachin barthwal

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

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