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What is TDS? Post journal entry for that in books of
company.
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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
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