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.

What is tha Central sales tax rate 2010 in andhrapradesh

0 Answers  

How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?

0 Answers  

How to calculate entry tax ??(In karnataka) Pls advice me complete computation details.

0 Answers  

we have received " c" form against full rate of tax i.e 12.5% from the customers can we summiting in sales tax department for taken a refond as consisnal rate i.e 2% sale against "c" form , but party hasebeen mantion on the back side of from all value inclusive of taxes i.e full rate of tax can we utilised this form for consosnal rate ?

1 Answers  

if an organisation has deductd tds of consultancy and if that consultancy is not libal to pay tas for that financial period then the tax has already deducted by other organisation,then can that consultancy has a right to get the deducted tax return, and if yes what is the procedure to get the amount return

0 Answers  

Pass a entry for purchase a material for Rs. 2000 inclusive of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration

10 Answers  

If customer out of state not proving C form ( In his purchase order declare tax as applicable )then which tax is applicable for sale of finished goods

2 Answers  

what is all tcs rate

2 Answers  

If some body asks me m y TIN number what does that mean?? Is it my Taxpayers Identification number or it is my Tax invoice number? What does both of these stands for???

4 Answers  

can any one explain why tds receivable comes on loans and advances(assets)..?

1 Answers  

What items come under deferred tax liability?

0 Answers  

computation of monthly income tax? example;-salary of male employee below 65 yr. of age the yrs inclusive of all perquisites is Rs.450000/- out of which rs.50000/- is account of non monetary perquisites and the employer opt.to pay the tax on such perquisites as per the provision?discusson above with reply

1 Answers