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When we paid tds on rent how will journal entry will come and how to enter in tally software?
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Answer Posted / praveen.kp
There are mainly 3 entries.
1. for booking rent
Rent a/c Dr
To parties a/c
To TDS on rent a/c
2. for TDS
TDS on rent a/c Dr
To Income Tax Suthorities a/c
3.for paying TDS to GOVt
Income Tax authority a/c DR
To cash a/c
(cash go's out of the business)
| Is This Answer Correct ? | 59 Yes | 6 No |
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