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i want to know the procedure of Tds ledger in tally for
Event management co,s means procedure of creating TDS
ledgers and how to know the outstandigs of Tds payable and
Receivables
plz guide me.........
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Answer / saurabh
Tds is efected when you are making a payment to some as per
the provision of income tax laws.
since you are working in a event management co. so u must
be aware of the nature of the payment attracting tds.
you can open tds a/c in creditors ledger and when make the
payment to any party route the exp through this a/c too.
e.g
you have to make a payment of Rs 40000 to a praty for
transportation and tds amt comes to rs 800 approx
payment voucher will be like this:
bill recd and passed for payment
Dr tpt a/c 40000
cr party a/c 39200
cr tds from tpt 800
on making payment:
party Dr 39200
cr bank a/c 39200
when tds is deposited i.e on due date take print out of
this tds ledger a/c and issue cheque
dr TDs from tpt
cr bank a/c
| Is This Answer Correct ? | 58 Yes | 9 No |
Yes, Mr. Saurabh is correct. Also, you can make a voucher
entry in Tally there is an opption for cost centre when
ever you are going to deducting tds a/c. maintain the cost
centre for each party (cr.), which can helpful for the
section-wise. When you making the payment for TDS (Dr.)
This can be idenditify that party-wise how much we deducted
and deposited. Secondly, you can treat this as sub-ledger
also. (TDS A/c (Main Ledger a/c.) 194c (Sub Ledger A/c.) &
ABC a/c. (Cost Centre. If, you want more clarification pl.
contant maheshsundram69@gmail.com
| Is This Answer Correct ? | 19 Yes | 7 No |
Answer / guest
visit www.tallynine.com for a step by step learning TDS
entry in Tally
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / manoj bhide
Mr. Saurabh is correct. The change is only that the entry
should recored only through the specific creditors account
and not the general creditor a/c. Because it will record
only the amount payable after deducting the tds without
recording it in to the a/c of that creditor. So there will
be difuculty when we have to issue the tds certificate to
the party. So the correct entry will be
1)purchase a/c Dr
to creditor a/c
2)
creditor a/c Dr.
to tds a/c
| Is This Answer Correct ? | 7 Yes | 3 No |
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