How can i treat the tds in the Books of Deeductee. Example
suppose my company recives an amount on Job work charges by
giving tds to a deductor company. Then will i creat it
under tax and liability ledger or other.
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Answer Posted / sumancwa
When we are making Payment, We supposed to pass the entry as follows:
supplier A/c. Dr. XXXXX
To TDS Payable a/c XXXXX
To Bank / Cash A/c. Dr. XXXXX
This TDS Payble A/c. we need to create under CURRENT LIABLITIES Group.
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