Payment of TDS to government authorities
The TDS that has been deducted on various transactions, needs to be deposited to the government. Payment of TDS is handled through Payment Journal or General Journal. Provision available to select the TDS Entries, which assessee needs to pay to government authorities depends on the basis of filters, for example – TAN, Assesses, Date, etc.
- Choose the
icon, enter Payment Journal or Bank Payment Voucher, and then choose the related link. - Select the relevant TDS payable account number in Account No. field > Select relevant TAN in T.A.N No. field > Navigate > Pay TDS > then select TDS. Select the entries and system generates TDS payment entry in the journal line.
On posting of the payment journal, TDS Entries are marked as 'Paid'.
GL Entries are as following:
Particulars Amount TDS Payable Account 10000 Bank Account -10000