Interested to Buy Any Domain ? << Click Here >> for more details...
Pass a entry for the Contract receipts of Rs. 20000 after
deduction of mobilization adv 30%, TDS 2.244%,Works
Contract TDS 2% and retention money @ 10%
- 9 Answers
- 34273 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / yvk prasad
mobilization advance a/c dr 6000.00
tds income tax recble a/c dr 449.00
adv.for sales tax/tds on w.c.a/cdr 400.00
retention money a/c dr 2000.00
Sundry debtor/party a/c dr 11151.00
work contract receipts a/c cr 20000.00
| Is This Answer Correct ? | 39 Yes | 13 No |
Answer / munnalal
SUNDRY DEBTORS- 20000/-DR
MOBILIZATION- 10761.17/-DR
TDS RECEIVABLE- 804.94/-DR
WORK CONTRACT TAX- 717.41/-DR
RETENTION- 3587.06/-
SALES-WORK CONTRACT- 35870.58/-CR
__________ ____________
35870.58/-DR 35870.58/-CR
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / arun kumar
MObilization adv dr. 6000
TDS dr. 449
wct dr. 400
retention money dr. 2000
party/dr. 11151
contract receipt 20000 cr.
| Is This Answer Correct ? | 9 Yes | 4 No |
Answer / prasad deshmukh
tds recble 797
Retention Money 3586
W.C. 717
Cash / Bank 20000
party a/c 25104
| Is This Answer Correct ? | 19 Yes | 16 No |
Answer / ajay vinayak
1) First book the contract in journal by following entry:
MObilization adv dr. 6000
TDS dr. 449
wct dr. 400
retention money dr. 2000
party/dr. 11151
contract receipt 20000 cr.
2) At the time of receiving money:
Bank A/C.....dr.11151
to Party A /c 11151
| Is This Answer Correct ? | 5 Yes | 4 No |
Entry
cash / bank a/c Dr. 20000/-
TDS Receable a/c Dr 1515/-
Mobilization a/d. Dr 10761/-
Retention maney a/cDr. 3587/-
To Party a/c 35863/-
| Is This Answer Correct ? | 11 Yes | 13 No |
Answer / sandeep
MObilization adv dr. 6000
TDS dr. 314 (20000-6000)
tds already deducted by deptt/agency at the time of given/release)
wct dr. 400
retention money dr. 2000
party/dr. 11286
contract receipt 20000 cr.
| Is This Answer Correct ? | 1 Yes | 4 No |
What is MAT?
when we reqiure C form from Party?
If i want to pay less tax,which method of depriciation should be adopted?
what are the indirect taxes?
a business man purchases goods at 12.5% vat... he wants to sel l the goods to other state then central sales tax will be applicable@2%.what he can do with the input tax avai lable?
We had tax audit in our tour company. After examination of our tax account they have given us out standing tax liabilities in two type (1) corporate Tax (2) Vat. Now question is that in which ledger these liabilities will come and how should I pass entry for both in accounts. Kindly request to you please answer me
Rent is 50000 and service tax is 6180 what is the tds amount?
How to calculate the TDS
0 Answers Manufacturing, Wipro,
I have a plot at Visakhapatnam. I have entered into a contract with a builder which enables him to construct 10 flats on the plot and builder and myself will share 50:50 of the constructed area. i.e. builder will get 5 and i will get 5 flats. Builder is not paying me any other consideration apart from 5 flats. Kindly clarify as to whether any servive tax is applicable and payable by me ?- kgr varma
basic knowledge of accounting ?
how will one calculate TDS when the bill is with service tax (SAY an AMC bill ) and what treatment will be there when it is a rent bill with service tax. is there any rules in income tax as to deduct double taxation?? pls help with rules sir
what is mis
Audit 
