Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...


If vendor is deducting TDS amt while paying, how to pass
entry inbooks. Will it be TDS recoverable/TDS payable a/c.
kindly clarify

Answers were Sorted based on User's Feedback



If vendor is deducting TDS amt while paying, how to pass entry inbooks. Will it be TDS recoverable..

Answer / bijender

When Vendor deducting TDS. TDS Payble A/c will be credited
and A/c Head will be Debited.E.g. M/s GML is paying 7840 as
jobwork changes to M/s Kundan & sons and dedcuting 160 as
tds.Entry will be as follows:

Job Work A/c 8000
To TDS Payble 160
To Kundan & Sons 7840

While Paying amount
Kundan & Sons 7840
TDS Payble 160
To Cash/Bank 8000

Is This Answer Correct ?    10 Yes 1 No

If vendor is deducting TDS amt while paying, how to pass entry inbooks. Will it be TDS recoverable..

Answer / satish

TDS PAYABLE

Is This Answer Correct ?    9 Yes 1 No

If vendor is deducting TDS amt while paying, how to pass entry inbooks. Will it be TDS recoverable..

Answer / sandeep

Boss,


to be frank, the question itself is wrong, TDS will be made by the receiver of the service, vendor is a provider of service. A customer can do that then the entry will be,

Bank A/c Dr/....
TDS Payable Dr..

To customer A/c.

Is This Answer Correct ?    2 Yes 1 No

Post New Answer

More Accounting General Interview Questions

What is the purpose of accounts like e.g. expense accounts assigned a account number 0040, principal account assigned anumber 0060.In our general ledger software such numbers are assigned.I want to know how these numbers (accounts) help in maintaing accounts of a company (like bank reconciliation).

0 Answers  


If a company Purchased Cotton Waste.. it comes under which expense/ how to treat in account

3 Answers  


golden rules of accounting

3 Answers  


Hello Friends, I am Vinod Rawat & want some tips of interview question for the post of accountant in a reputed company Pls. Given Examples.

0 Answers  


saji become insolvant -what is journal entry

0 Answers  


How can i learn shortly Tally from computer coz, i want to take a company Balance Sheet

0 Answers  


wt is Bank Guarantee?wt the pr0 cedure of BG

1 Answers  


8- What do you understand by accounts receivable and accounts payable and its schedule?

1 Answers  


What are the following types of accounts falls under in Accountancy? Can you please classify the following whether they are nominal ,real or personal account ? 1)sales tax account 2)Debtors account/Creditors account 3)Bank Overdraft account 4)Bills Payable Account/Bills receivable Account 5)Stationery Account 6)Purchase account 7)Loan Account

2 Answers   Infosys,


WHAT IS THE AUDIT?

1 Answers  


Given the following entries from a TRIAL balance, what entries would fall where in a Balance Sheet & an Income Statement? Accounts receivables Merchandized inventory stores supplies office supplies prepaid insurance accumulated Dep accounts payable sales salaries advertising expense Miscellaneous expense Office salaries expense rent expense Depreciation expense Insurance expense Bad debts expense Allowance for doubtful debts Supplies expense

1 Answers  


Can u explain Invoice format in details?

2 Answers  


Categories