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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 / mohan sriram (bhiwandi)
1) While book in Tally-
Rent A/c Dr- 100
To TDS on Rent A/c - 20
To Party A/c - 80
2) While making payment to the party
Party A/c Dr- 80
To Bank A/c - 80
3) Deposits of TDS to Govt
Treasury/Bank A/c Dr- 20
To TDS on rent A/c - 20
| Is This Answer Correct ? | 34 Yes | 18 No |
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