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Pass a entry for the Contract receipts of Rs. 20000 after
deduction of mobilization adv 30%, TDS 2.244%,Works
Contract TDS 2% and retention money @ 10%

Answer Posted / sandeep

MObilization adv dr. 6000

TDS dr. 314 (20000-6000)
tds already deducted by deptt/agency at the time of given/release)

wct dr. 400

retention money dr. 2000

party/dr. 11286

contract receipt 20000 cr.

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