Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please

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Professional fees of Rs.30000/- is paid to a consultant ABC
& Co.
please pass the necessary entry for the same

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Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / renjith

Professional fees A/C........Dr. 30000
To ABC & co 26910
To TDS payable 3090

CGST 2422
SGST. 2422
To CGST ( RCM) 2422
To SGST (RCM) 2422

Is This Answer Correct ?

0 Yes

0 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / chalapathi rao govada

ABC &C A/C Dr 30000
To Bank A/C 30000

(Being the professional fee paid)

Is This Answer Correct ?

24 Yes

25 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / anil gautam

professional fees a/c dr 26910
tds a/c dr.to 3090
bank a/c 30000
(being profeesional fees paid)
tds is uper 20000 10.30%

Is This Answer Correct ?

2 Yes

3 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / amit shelar

Professional fees a/c 40000
to xyz 35880
to tds on professional fees 4120

Is This Answer Correct ?

3 Yes

4 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / ca aakash gupta

Professional fees a/c Dr. 30000
To Consultant ABC & Co. 30000

Consultant ABC & Co. Dr. 30000
To Bank 30000
Note. 1. No TDS Deduction is Required If amount paid in
respect of professioal fess Rs 30000 or less But If amount
paid to a profesional exceeding 75000 during the year then
TDS deduction is required @ 10% Under sec 194J of Income
Tax Act,1961. 2. If a payment exceeding 20000 is made in
cash it is disallowed U/S 40(a).

Is This Answer Correct ?

2 Yes

3 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / nilesh

Profit and loss A/c DR.
to professional fees A/c

Is This Answer Correct ?

1 Yes

3 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / bharathi

Professional Fees A/c Dr Rs.30000
To ABC & Co. Rs. 30000
(Being Professional Fees to ABC & CO

ABC & Co Dr Rs.30000
To Bank /Cash A/c Rs.30000
(Being Cash/ Bank paid to ABC & Co.)

There is no question of TDS - because if it is a single entry for the whole FY 12-13.

IF IT IS A CONTINUOUS SERVICE TDS IS APPLICABLE THAT MEANS IF IT EXCEEDS MORE THAN RS.30000 FOR THE FY 12-13 TDS TO BE DEDUCTED OTHERWISE NO NEED.

Is This Answer Correct ?

1 Yes

3 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / bijay parida

ABC and co a/c Dr. Rs.30000/-
To,TDS payable on professiona@10.30% Rs.3090/-
To,Cas/Bank a/c Rs.26910/-

Is This Answer Correct ?

2 Yes

5 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / satyaki_raju@yahoo.com

Simple answer is
Professional fees a/c dr
To bank/cash a/c
(being professional fee paid to ABC & co)
Why confusing others by creating TDS account. Most of the
commerce candidates are not in a position to pass ordnary
jaournal entries

Is This Answer Correct ?

0 Yes

3 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / sonu & rakesh

Professtional Tax A/c Dr 30000.00
To TDS@ (10%+3%E.C) 3090
To Cash/ Bank 26910
(Bing Prof TAx Paid To ABC Co.)

Is This Answer Correct ?

12 Yes

16 No