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how to record journal entry for tds on salary on quarterly
basis?
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Answer Posted / pankaj kumar mishra
Salary A/c Dr. 50,000
To Salary Payable A/c 45,000
To Tds Payable on Salary A/c 5,000
| Is This Answer Correct ? | 1 Yes | 0 No |
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We made full payment to contractor and forget to deduct TDS on that.Now contractor ledger is fully settled and we have to pass the TDS entries on that. Kindly guide rectify the entries on tds
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Q.No.1) I paid Salary to our staff after deduction TDS. what is the journal entry pass at that time of payment of salary only, and then at the time of payment of tds. and the last date for payment of TDS Q.No.2) Suppose I paid Salary In advance due to that officer is take business tour at the end of the month in after deducting TDS. Now What is the journal entry Salary Advance & Payment of TDS. and when i will pay TDS for This Situation. Kindly Help me
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plzzzzzz help me friend my question is, is the tds of part of income tax and when it deduct from salary and why becose tds is deduct only secoundry primary income like lotory etc..
If a person got gold by wining a lottery and TDS on the gold value was not deducted by the deductor. After getting the gold, the person tranfer the gold to his daughter. After reading the provisions of the Income Tax Act, 1961, you are required to state that who is liable to pay the tax on the value of the gold? and is there any liability of the Deductor towards non-deduction of TDS?
What is the WCT percentage under which the amount is being deducted in Punjab. Under what Notification and dated when???????????. Serious Senor I need the answer other wise I would not have posed this question; Please send the answer to the mail address.
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
Dear Experts, Please advice, what are the rate of WCT , and is it differ from individual to companies in case of deduction ( if i am the deducting person)
