Answer / d

transport expenses a/c .. dr
to hemant transport a/c
to T.D.S

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.)

Answer / ravindra kumar

party a/c Dr (full amt.) 10000
cash/bank a/c cr. 9000
tds a/c (liabilities) cr. 1000

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/-

Answer / sandeep

debit the account on which TDS dedcuted
credit TDS payable account

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

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

Answer / manish

If tds is deducted against bill raised by you, then it will
be treated as current asset. The accounting entry for the
same will be as follows.

Dr. Cash / Bank account (When payment is received)
Dr. TDS Receivable account.
Cr Vendor Account

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.

I've bought goods from other state at 2% for trading. What is the rate, I've to charge for my customers?

1 Answers  

IS ESI is applicable to audit firm which has more than 20 employees?

3 Answers  

what is defferred tax liability ? explain with 2 example.

1 Answers  

i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- rs and comission rate is 18% what will be net comission will be recd by me after deducting service tax and tds ?

6 Answers   Bajaj Allianz, Reliance,

ER-5 & ER- 7 ER -4 related all information 1) What Fill The ER-5 & ER- 7 ER -4 2) What Infomation Fill In the return

0 Answers  

THE CUSTOMER IS FROM GOA STATE AND THEY PURCHASE GOODS FROM MAHARASHTRA UNDER C FORM THAT TIME THE CUSTOMER ISSUED C FORM ON WHICH AMOUNT TAXABLE OR INVOICE AMT(TAXABLE + 2%)?

4 Answers  

how to calculate sub contract tds his bill 48500?

6 Answers   Capital IQ,

what is form 'H'? and why its used in Manufacturing Industry?

10 Answers   TATA,

How can adjust income tax with TDS???

1 Answers  

How to file the sales tax returns. I am new to this feild. pls help me.

2 Answers  

For the Quarter Oct-Dec 2008, we hav to give the service tax purchase bills and Sales bills whose payment are cleared in that particular quarter. if i missed any of the bills for the filing? shall i submit the missing bills inthe next quarter(Jan - Mar 09)?

1 Answers  

What is rate of tax applicable in absence of central declaration form in state of Haryana. against "C" form rate is 4% & Local VAT is 12.5%. Pl. help.

2 Answers