Interested to Buy Any Domain ? << Click Here >> for more details...
There is a Service Bill of Rs.50,000 & Service Tax added
10.30% & We have to deduct TDS @ 2%. Assume that Service
Tax Input Credit available to Ur Co. What is the Journal
Entry for this?
- 23 Answers
- 65872 Views
- A Cube Solutions, HCL, Motorola, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / kiran
expenses a/c dr 44850
service tax a/c dr 5150
to party a/c 50000
( being bill no........)
party a/c dr 1000
to tds a/c 1000
( being tds deducted 2% on contactor)
| Is This Answer Correct ? | 114 Yes | 46 No |
Expense A/C DR 50000
Service Tax Input dr 5150
TO Tds Payble cr 1103
To Party A/c cr 54047
(Being bill booked and tds deducte 2%
| Is This Answer Correct ? | 60 Yes | 27 No |
Answer / vaishali pawaskar
J.V entry pass
professonal fees Ac........ Dr 50000
Service tax Receivable Account Dr 5150
To Party Account Cr 54047.
TO TDS on prof fees cr 1103
At the Time of Payment of TDS
TDS on prof fees........dr 1103
to cash /bank a/c 1103
At the Time of Payment of creditor
Party Ac Dr.......... 54047
To Bank 54047
| Is This Answer Correct ? | 39 Yes | 9 No |
Servic Tx Payble A/c Dr. 5150
To Service Tax Input Cr. 5150
(Being Service Tax Input Tax Utilised)
| Is This Answer Correct ? | 19 Yes | 9 No |
Answer / viseswar
Expense A/c Dr 50000
Service Tax receivable Dr 5150
To Tds Payble (194c comp.) Cr 1103
To Party A/c Cr 54047
(being servicetax paid (10.3)& tds deducte 2%)
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / biseswar
Expence A/c 50000.00Dr.
Service Tax payable 5150.00Dr.
To TDS Payable (194c Contractor) 1103.00Cr.
To Party A/c 54047.00Cr.
Being the Bill Booked after deduction 2% TDS
| Is This Answer Correct ? | 12 Yes | 8 No |
Answer / nagachandra pattar
Expenses A/c Dr 50000
Service Tax A/c Dr 5150
To Party A/c 55150
Party A/c Dr 1103
To TDS Payble A/c 1103
(Being Tds @2% deducted including Service Tax)
| Is This Answer Correct ? | 30 Yes | 27 No |
Answer / vishwanath
PROFESSIONAL FEES A/C DR. 50000/-
SERVICE TAX A/C DR. 5150
TO PARTY A/C CR. 54047
TO TDS ON PROF. FEES A/C 1103
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / rajmangal maurya
service bill booking entery
Expences a/c dr. 50000
service tax a/c dr. 5150
to party a/c 54150
to tds @2% 1000
payment entry to party
party a/c dr. 54150
to bank a/c 54150
tds deposit entry
tds a/c dr. 1000
to bank a/c 1000
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / vishalgoel88@yahoo.com
1)bill record entry
Service bill a/c dr. ........ 50000
Service tax cenvat a/c dr......5150
To Party a/c 54150
To TDS payable 1000
2) Payment entry
Party a/c dr...... 54150
To Bank a/c ...... 54150
(TDS calculated on basic value excluding service tax)
(Note : Service tax charged in the bill by service provider)
| Is This Answer Correct ? | 2 Yes | 0 No |
if a total slary of a person for year is 200000 presently then what is the income tax amount to be deducted? how should be the calculation? how the entries to be done in tally?
how much tds deducate on hotel party arrange by company
I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.
Is wct charged on firm or proprietors ?
What are the treatment & implications if party doesn't provide C Form in interstate sales transactions & also same if provide C Form.
what is the defference between tds & tcs ?
What is the service tax rate for individual contractors and firm contractors.
What are the accounting entries to be passed for TDS if person who is assessed is a Firm (or) Proprietorship (or) Company (or) person? Eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax Deducted as Source) to “ABC & Co” (i would like to know the entry to be posted in "CDE & Co" and "ABC & Co")
What is means by ESI ? How to calculate ESI ? ESI challan or form No. ?
7 Answers Buzzworks Business Services, Reliable Hitech Infrastructure Private Limited,
Any body give journal entry for this PURCHASEA/C DR 500 S.TAX 50.0 SUNDRY CREDITOR 450.00 AND Which amount i taken in purchase ledger and which amount i taken in s.Tax ledger and which amount i taken in sundry creditors ledger wat are the details i require to maintain with regard to submitting of s.Tax return
sir, please suggest me. If in case work contract, wct not deduct by principal contractor then what is the consequence ? I mean please clear me if the principal contractor not deduct wct then is the contractor (sub) liable to pay wct ?
Please advise can somebody deducted TDS on Dollar Bill. If yes then why....
Audit 
