What is the general entry for TDS certificate received from
the debtor of the company?
Answer Posted / subhash a.
Dear friend, here situation is not the amount received. It
is only the TDS certificate received from party.
There are two solutions for this problem.
1. If at the time of receipt of amount from party the entry
passed in books as below
Cash /Bank A/c Dr. xxx
TDS receivable A/c Dr. xx
To Party's xxx
Then no need to make a further entry
2. If at the time of receipt of amount from party the entry
passed in books as below
Cash /Bank A/c Dr. xxx
To Party's xxx
Then we need to make a further entry as
TDS receivable A/c Dr. xx
To Party's xx
Is This Answer Correct ? | 18 Yes | 2 No |
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