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Answer Posted / masood
1. At the time of Inovice (or)
2. At the time of making advance payment to Vendors
which ever is earlier TDS will be deducted
1. At the time of Invoice, accounting Entry is as below (
for 1000 Rs/- Expenses )
Expenses A/c .............DR 1000
To Vendor A/c ....... 900
To TDS A/c ....... 100
2. At the time of Advance Payment accounting entry is as
below for 1000 Rs/.Payment.
Vendor A/c ......DR 1000
To Bank A/c... 900
To TDS A/c... 100
Thanks....and please correct if the above answer is wrong
| Is This Answer Correct ? | 18 Yes | 2 No |
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