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%
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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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