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A ca charge a bill on his client of rupees 100000 and charge service tax @ 12.36%, party make payment after dedicate tds
@10% what enters be made in the books of CA and party.

Answers were Sorted based on User's Feedback



A ca charge a bill on his client of rupees 100000 and charge service tax @ 12.36%, party make paymen..

Answer / sunil srivastava

1ST ENTRY
DR.LEGAL & PROFF EXP.100000
DR.SERVICE TAX 12360
CR TDS@10% U/S 194-J 10000
CR.PART A/C(CA)102360

2ND ENTRY

DR PARTY A/C (CA)-102360
CR BANK A/C-102360

Is This Answer Correct ?    6 Yes 1 No

A ca charge a bill on his client of rupees 100000 and charge service tax @ 12.36%, party make paymen..

Answer / soumya prakash ganguly

Party A/c

P.Charges A/C.....Dr. 87640/-
Service Tax Receivable A/C.....Dr. 12360/-
To CA A/C...........Cr. 90000/-
To TDS payable A/C...Cr. 10000/-

CA A/C............Dr. 90000/-
To Bank/Cash A/C....Cr. 90000/-

CA A/C

Party A/C......Dr. 100000/-
To P. Charges A/C...Cr. 87640/-
To Service Tax Payable A/C..Cr. 12360/-

Bank/Cash A/C..Dr. 90000/-
TDS Receivable A/C...Dr. 10000/-
To Party A/C.....Cr. 100000/-

[Note : Now TDS charges on base value of invoice]

Is This Answer Correct ?    3 Yes 0 No

A ca charge a bill on his client of rupees 100000 and charge service tax @ 12.36%, party make paymen..

Answer / santhosh varma

Bill Entry

Financial & Legal Charges A/c...........Dr 1,00,000
Service Tax A/c.........................Dr 12,360
TO CA-(Consultancy) A/c....Cr 1,02,360
TO T.D.S-Payable A/c.........Cr 10,000

Payment Entry

CA-(Consultancy) A/c.........Dr 102360
TO Bank/Cash A/c------Cr 102360

Is This Answer Correct ?    0 Yes 1 No

A ca charge a bill on his client of rupees 100000 and charge service tax @ 12.36%, party make paymen..

Answer / xyz

legal& prof exp dr 112360
TDS@10% U/J 194-J cr 10000
Party(ca) a/c cr

party(ca)a/c dr
bank a/c cr

Is This Answer Correct ?    0 Yes 2 No

A ca charge a bill on his client of rupees 100000 and charge service tax @ 12.36%, party make paymen..

Answer / deepak deshpande

BOOKS OF Z PARTY
PROFESSIONAL CHARGES A/C      DR     1, 12,360
TDS PAYABLE          A/C      CR        11,236
CA FIRM              A/C      CR                    1,01,124
BEING SERVICE RENDERD BY CA FIRM

CA FIRM             A/C       DR   1,01,124
BANK                A/C       CR                    1,01,124
BEING AMOUNT PAID TO CA FIRM ON SERVICES RENDERD

TDS PAYABLE A/C  DR 11,236
BANK A/C                 CR                  11,236 
BEING TDS DEDUCTED PAID TO GOV.

BOOKS OF CA 

Z A/C                                   DR 1, 12,360
PROFESSIONAL FEES RECEIVABLE A/C        CR       1, 12,360
BEING AMOUNT DUE ON SERVICES PROVIDED

BANK A/C             DR       1,01,124
PARTY Z A/C          CR                              101,124
BEING PAYMENT RECEIVED SUBJECT TO TDS

TDS RECEIVABLE A/C                DR 11,236
PARTY Z A/C                       CR                  11,236
BEING TDS CERTIFICATE DUE FROM Z               

Is This Answer Correct ?    5 Yes 8 No

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