how tds is calculated?
You can calculate tda as per tds % it is applicable total
Bill Amount suppose Tds on Professional fees deduction rate
is 10% you receive bill rs.10000/-book entry as under:-
Legal & Professional Fees Dr. 10000.00
To Vendor 9000.00
TDS on Professional Fees 1000.00
(Bill No………………….)
Vendor Dr. 9000.00
To Cash/bank 9000.00
(Being amount paid against bill no…………….)
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