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")
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Answer Posted / 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
| Is This Answer Correct ? | 13 Yes | 0 No |
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