Answer Posted / sandeep

Boss,


to be frank, the question itself is wrong, TDS will be made by the receiver of the service, vendor is a provider of service. A customer can do that then the entry will be,

Bank A/c Dr/....
TDS Payable Dr..

To customer A/c.

i got a case study in which theie is a chemical company group which has 12 companies in all, few in Europe and few in USA, my question is should i have only 2 COA as per the standard like US GAAP and IFRS or should i have COA based on country location.

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