Interest on Late Payment of TDS

Interest on Late Payment of TDS

Step 1: Create “Interest” Ledger under Indirect Expenses

Step 2 : Pass the entry for Tds payment with interst
Use Payment Voucher

Don’t use TDS Helper (Alt + S)

Dr. TDS Ledger XXX
Dr. Interst XXX
(Manually you have to type the figure then It will ask penalty or interest or others, option in that select whatever it is )
Cr. HDFC Bank XXX

You have to print the voucher entry by pressing Alt + P so you will get challan and
in Chllan it will show “Interst” figure in interest column/ field.