IndigoLearn

Forums

All Topics Accountancy Auditing Corporate & Other Laws Direct Taxation Indirect Taxation Financial Management Economics Costing Strategic Management Maths & Stats Exams Others AFM Financial Reporting CFA Level I

TDS provision

Direct Taxation

Sir one doubt I had In the books of the deductor he will claim expenditure of the gross amount of TDS and the deductee will write the gross amount of TDS and then he will claim a deduction of the TDS paid by the deductor to the government Is it correct?

aman kawad

CA Inter

★ 7K+

16-Aug-20 20:55

353

Answers (1)

Deductor books Contractor Charges Exp A/c Dr. 1000 To TDS payable to Govt. A/c 100 To Contractor (payable) A/c 900 Deductee Books Deductor A/c (Receivable) A.c 900 TDS (advance tax) A/c 100 To Income A/c 1000