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When we paid tds on rent how will journal entry will come and how to enter in tally software?

Answers were Sorted based on User's Feedback



When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / ravi kedari.

TDS On Rent A/c....Dr
TO Bank/Cash A/c... Cr.

Is This Answer Correct ?    73 Yes 11 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / praveen.kp

There are mainly 3 entries.
1. for booking rent

Rent a/c Dr
To parties a/c
To TDS on rent a/c

2. for TDS

TDS on rent a/c Dr
To Income Tax Suthorities a/c

3.for paying TDS to GOVt
Income Tax authority a/c DR
To cash a/c
(cash go's out of the business)

Is This Answer Correct ?    59 Yes 6 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / t

TDS on rent a/c(amount deducted as TDS from rent)...Debit
To, Bank a/c (Credit

Is This Answer Correct ?    48 Yes 5 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / sandeep negi

Lets assume the following. "A" consider Party. "B" consider
TDS & "C" consider Rent


So Journal entry will be as following

Rent "C" (debit)(value of (A+B)
To TDS "B" (C-A)
To PArty "A" (C-B)

Thanks

Is This Answer Correct ?    37 Yes 3 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / rajesh

Suppose we are paying a landlord a rent Rs.15000/- & Tds
should be deducted @ 10%.

*Tds= 15000*10%=1500

therefore net payment to be made to landlord is Rs.13500/-
(i.e 15000-1500 =13500)
Entry will be passed in our book as

Rent & Hire Charges Rs.15000 Dr
Bank A/c. Rs.13500 Cr
Itds on Rent Rs. 1500 Cr

Is This Answer Correct ?    34 Yes 10 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / mohan sriram (bhiwandi)

1) While book in Tally-
Rent A/c Dr- 100
To TDS on Rent A/c - 20
To Party A/c - 80

2) While making payment to the party
Party A/c Dr- 80
To Bank A/c - 80
3) Deposits of TDS to Govt
Treasury/Bank A/c Dr- 20
To TDS on rent A/c - 20

Is This Answer Correct ?    34 Yes 18 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / mamta chaudhary

Three entries will be passed
Entry for Due
1) Rent A/c Dr.
To Landlord account
To Tds on Rent
Entry for transfer
2) Tds on Rent A/c Dr.
To Tds Payable Account
Entry for payment
3) Tds Payable A/c Dr.
To Bank/Cash Account

Is This Answer Correct ?    13 Yes 0 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / ravi

while booking a bill in journal in tally -f7
in journal - party a/c dr 5000
to tds 5000
(being bill booked)

in journal deduction entry - alt+s is the short cut key-f7
party 510.10
to tds 510.10

payment entry after deducting tds -f5
party a/c dr 4490
to bank 4490

deducted tds payment made to the dept -f5
tds a/c dr 510.10
to bank 510.10

Is This Answer Correct ?    7 Yes 0 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / tarun pal

SUPPOSE, WE PAY TDS ON RENT ENTRY WILL BE PASSED

BANK A/C Dr.
To TDS ON RENT A/C
TO PARTY A/C

Is This Answer Correct ?    10 Yes 9 No

When we paid tds on rent how will journal entry will come and how to enter in tally software?..

Answer / sateesh

how to prepare tds journal entries on salaries for the month of june-2016

Is This Answer Correct ?    1 Yes 0 No

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