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 / rajesh
Suppose we are paying a landlord a rent Rs.15000/- & Tds
should be deducted @ 10%.
*Tds= 15000*10%=1500
therefore net payment to be made to landlord is Rs.13500/-
(i.e 15000-1500 =13500)
Entry will be passed in our book as
Rent & Hire Charges Rs.15000 Dr
Bank A/c. Rs.13500 Cr
Itds on Rent Rs. 1500 Cr
| Is This Answer Correct ? | 34 Yes | 10 No |
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