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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.
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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
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Answer / anjana.sehgal@gmail.com
Party A/C - Dr.
TDS on Int - Dr.
To Interest Receivable.
(Being interest receivable on amount of security)
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