how to record journal entry for tds on salary on quarterly
basis?
Answers were Sorted based on User's Feedback
Answer / hklkhk
WHEN DUE SALARY THAT TIME ENTRIES ARE FOLLOWING
EMPLOYEE SALARY A/C DR. 30000
TO SALARY PAYABLE A/C 29400
TO TDS PAYABLE A/C 600
WHEN PAYMENT
SALARY A/C DR.29400
TDS.PAYBLE A/C 600
TO. BANK A/C 30000
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / syed abuthahir
salary A\C Dr 45000
Tds A\c Dr 5000
TO Cash A\C 5000
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / rakesh singh
# Salary a/c Dr. .....
To Tds payable a/c ....
To Salary payable a/c...
# salary payable a/c Dr. ....
Tds payable a/c Dr. ....
To bank a/c .....
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / pankaj kumar mishra
Salary A/c Dr. 50,000
To Salary Payable A/c 45,000
To Tds Payable on Salary A/c 5,000
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mrutyunjaya
salary A/C dr.30300/-
Tds A/c Cr. 300/-
Salary Payable A/C 30000/-
(Being the salary for the month ofxxxx & tds deducted @1% on
salary)
At the time of Payment
Salary Payable A/C Dr.30000/-
bank/Cash A/c Cr. 30000/-
( Being cash paid to Mr. xxxxx for the month of xxxx)
at the time tds amount deposit in bank
Tds A/C Dr. 300/-
Bank A/C Cr.300/-
( Being tds Deposit in bank vide challan no xxxxx)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sourish
salary a/c dr. 30000
to TDS a/c 5000
to Mr. H a/c 25000
Mr. h a/c dr. 25000
to Cash a/c 25000
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vinay.r
Salary A/C Dr 50000
To Salary Payable A/c 45000
To TDS on Salary A/c 5000
Salary Payable A/C Dr 45000
To Bank A/C 45000
TDS on Salary A/c 5000
To Bank A/c 5000
| Is This Answer Correct ? | 1 Yes | 0 No |
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