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Answer Posted / nihar
A. TDS deducted on Due basis and Payment was made.
1)For TDS due-
Expenses A/C Dr.
To Party A/C.
To TDS Payable A/C.
(Being expenses was due and TDS was deducted)
2)For Payment of TDS
Party A/C Dr.
TDS Payable A/C Dr.
To Bank A/C.
(Being payment was made)
B. TDS was deducted on Payment basis
1) Party A/C Dr.
TO TDS Payable A/C.
TO Bank A/C.
(Being advance paid to party and TDS was deducted)
2) TDS Payable A/C Dr.
To Bank A/C.
(Being TDS was Paid)
3) Expenses A/c Dr.
To Party A/C.
(Being Expenses was Booked)
| Is This Answer Correct ? | 3 Yes | 3 No |
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