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Answer Posted / rajadurai
if you open one deposit for some amount in bank,that bank
will give some interest for that deposit amt.
so that customer who opened the deposit will get some gain
through that deposit.
so, concern authority person will deduct tax from that
deposit amt.there is one way to waive the tax through form
16.
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Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it
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