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What is the accounting entry to be posted for TDS if the
assess is Firm (or) Company (or) Proprietorship (or) Individual?
eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank
after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax
Deducted as Source) to “ABC & Co” (What entry should i pass
in "CDE & Co" and "ABC & Co")

Question Posted / prakash_kuttan


What is the accounting entry to be posted for TDS if the assess is Firm (or) Company (or) Proprieto..

Answer / bharat bhushan

ABC & Co A/C Dr 1,00,000
To Icici Bank Cr 90000
To Tds Cr 10000



Bank A/c Dr 90000
TdS Dr 10000
To CDE & cO cR 1,00,000

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