What should be the entry passed for TDS deduction by the Company and tds deduc

What should be the entry passed for TDS deduction by the
Company and tds deducted on the Company?
Can tds refund on FD foreclosure be adjusted aganist the
tds deducted on the Company?

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What should be the entry passed for TDS deduction by the Company and tds deducted on the Company? ..

Answer / koyi

Tally software entry

XYZ Company 10000
TDS Deducted -1000

Bank 9000

Is This Answer Correct ?

10 Yes

2 No

What should be the entry passed for TDS deduction by the Company and tds deducted on the Company? ..

Answer / om

AT Time of Deduction of Tds by the Party
Entry will be

Party 10000
TO Professional fees 10000 ( Directincome)

Tds 1000
cash 9000
To party 10000

AT time of deducting tds

Professionl fees 10000
TO Party 10000

party 10000

To Tds 1000

To Cash 9000

Depositing tds\

Tds 1000

To cash 1000

Is This Answer Correct ?

5 Yes

1 No

What should be the entry passed for TDS deduction by the Company and tds deducted on the Company? ..

Answer / om

Is This Answer Correct ?

5 Yes

2 No

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