Answer Posted / nitin kumar srivastava

At the time of Deducting TDS.

Expenses Account Dr.
To, TDS Payable Account
To, Party


At the time of deposit of amount of TDS.

TDS Payable Account Dr.
To, Cash/Bank Account



At the time of booking of income.


Party Dr.
TO, TDS DEDUCTED
TO, rEVENU RECEIPTS Account

At the time of Receipt of Income.

Bank/Cash Account Dr.
To, Party

Our Company dedduct TDS on the collection charge and claim (rate diff claim, scheme claim, collection charge means , if any party take material directly form our store our company give them frieght charge and deduct tds@10.30%). my question in what category of this type of TDS decution ? is it payment to contractor or what ?

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