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TDS ENTRIES IN THE HANDS OF PAYER & PAYEE

Answer Posted / intezar ahmed

In the Books of Payer

for Ex. if TDS on Rent

Rent A/c Dr. 10,000.00
To Bank/ cash 8000.00
To TDS on Rent 2000.00

In the Books of Payee

Bank/ Cash A/c Dr 8,000.00
TDS Receivables A/c Dr 2,000.00
To Rent Received 10,000.00

Is This Answer Correct ?    90 Yes 18 No



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