what is TDS..? and Entry for TDS..?
Answers were Sorted based on User's Feedback
Answer / dharamvir(bittu)
when deduct TDS than entry:
Exp a/c dr.
To Tds payable a/c
To party a/c
At the time of payment:
Tds payable a/c dr.
to bank a/c.
Is This Answer Correct ? | 17 Yes | 1 No |
Answer / sunil
Tax Deduction At Source (TDS)
TDS Entry
(1) Item A/c Dr
Party A/c Cr
(2)
Party A/c Dr
TDS A/c CR
Is This Answer Correct ? | 22 Yes | 9 No |
Answer / mounika
TDS tax deducted at source
Tax is to be deducted at the time of invoice
posting or advance payment posting whichever is earlier.
expenses a/c dr
To Party a/c
(being raised the entry first)
Party a/c dr
To TDS a/c
(being TDS deducted)
Is This Answer Correct ? | 8 Yes | 1 No |
Answer / suresh reddy
1) Expenses A/c Dr
To Party A/c
2) Party A/c Dr
To TDS A/c
To Bank / Cash
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / srinivas
tds is tax deduction at sources tds computation is follow through chart and
entry
when the tds deducted from party
Tds Receivable or party A/c
To Tds deducted and Payable
When the payment made monthly tds
Tds Deducted and Payable...dr
to Bank Or cash
Tds receivable on the financial year last
Provison for tax A/c ...Dr
To Tds receivable
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / pushpa
TDS is Tax Deduction of Sources
TDS is one of the mode of collection of Taxes which is applicable as you earn.
TDS Entry in Tally :
1. Expenses A/c Dr
To Party A/c
2. Party A/c Dr
To TDS A/C
Is This Answer Correct ? | 2 Yes | 2 No |
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