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we deposited securoty to a party and now due to us interest
amount then party deduct TDS on interest but we not recive
cash or in bank he credited our account in his books so
what will be the journal entries in our's books.


Answers were Sorted based on User's Feedback



we deposited securoty to a party and now due to us interest amount then party deduct TDS on intere..

Answer / sankar

TDS on interest a/c Dr XXX
To Bank a/c (which Bank a/c we have) XXX
then we will receive TDS certificate from that bank

Is This Answer Correct ?    0 Yes 0 No

we deposited securoty to a party and now due to us interest amount then party deduct TDS on intere..

Answer / anjana.sehgal@gmail.com

Party A/C - Dr.
TDS on Int - Dr.
To Interest Receivable.

(Being interest receivable on amount of security)

Is This Answer Correct ?    0 Yes 0 No

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