how to do T.D.S entries in account books
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Answer / d
transport expenses a/c .. dr
to hemant transport a/c
to T.D.S
| Is This Answer Correct ? | 68 Yes | 12 No |
Answer / srikant barick
1.
Expenses A/c (on which TDS deducted) Dr. 100%
To, TDS Payble A/c (as per central govt. rate)
To, Cash (balance after deduction of tds from exp.)
(if cash paid & expenses early)
2.
Expenses A/c (on which TDS deducted) Dr. 100%
To, TDS Payble A/c (as per central govt. rate)
To, Party A/c (balance after deduction of tds from exp.)
| Is This Answer Correct ? | 46 Yes | 8 No |
Answer / ravindra kumar
party a/c Dr (full amt.) 10000
cash/bank a/c cr. 9000
tds a/c (liabilities) cr. 1000
| Is This Answer Correct ? | 44 Yes | 6 No |
Answer / vikrant
In case of Payment Booking (Example)
Revenue(Expenses) A/c Dr. 101
To Party A/c Cr. 100
To TDS Payable A/c 1
While making payment to Govt.
TDS Payable A/c Dr. Rs.1/-
to Bank A/c Rs.1/-
If TDS on Provision
Revenue(Expenses) A/c Dr. Rs.101/-
to Provision(Libilities) A/c Rs.100/-
to TDS payable A/c Rs.1/-
| Is This Answer Correct ? | 32 Yes | 5 No |
Answer / sandeep
debit the account on which TDS dedcuted
credit TDS payable account
| Is This Answer Correct ? | 33 Yes | 16 No |
Answer / kalpana janardhane dudhate
TDS Deduction Means Which ever is Earlier
If Payment made without Bill so TDS Deduction is liable on
the payment
About Entry
Party A/c -Dr
TDS A/C -Cr
Cash/Bank Account -Cr
If bill come early payment made after
so entry
for eg they provide service on professional like consulting
charges
Professional Fees Ac -dr
TDS a/C -cr
Party a/c - cr
Regards,
kalpana
8828142221
| Is This Answer Correct ? | 18 Yes | 2 No |
Answer / nitin kumar 971783002
transport a/c dr.
to party
party a/c dr
to tds payable
tds payable a/c dr
to bank/cash
| Is This Answer Correct ? | 9 Yes | 3 No |
Answer / chandan kumar - 8976922555
Sorry i dont know right to ask question.
My question is if someone ( party ) deduct TDS from from our Invoice, what will be entry in the books of accounts as well as in tally. Please reply me.
| Is This Answer Correct ? | 2 Yes | 1 No |
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