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What will be journal entry for TDS deducated from an
freight payment of RS. 15000.00 , applicable TDS rate is
2.266%

Answer Posted / arun kumar

FREIGHT A/C DR 15000/-
TO PARTY A/C 15000/-
(Being Freight Charged)

Party A/c Dr 340/-
To TDS Payble A/c 340/-

(Being TDS Deducted @2.266%)

TDS Payble A/c Dr 340/-
To Bank/Cash A/c 340/-
(Being TDS Deposited)

Party A/c Dr 14660
To Bank/Cash A/c 14660
(Being Amount Paid)

Is This Answer Correct ?    22 Yes 10 No



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