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Entries for TDS Receivable and Payable Example 1 Without GST Suppose Max Provided Consultancy Service to ABC For 40000 on 10 Apr ABC Deducted TDS on 10 April and Deposited TDS on 7 May ABC Paid Max 36000 on 15 June Entries in Books of Max Entries in Books of ABC ABC To Consultancy Income 40000 40000 Bank To ABC 36000 36000 TDS Receivable To ABC 4000 4000 10 Apr Consultancy Exp To Max To TDS Payable 40000 36000 4000 07 May TDS To Bank 4000 4000 15 Jun Max To Bank 36000 36000 If TDS @10% Max ABC Bill consultancy Rs 40,000 Cheque Rs 36,000 4000 TDS Deposit 10 Apr 15 Jun 15 Jun

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.