What accounting Treatment we should do while we received
Amount Rs 39200 After deducting Tds 800 From Invoice Amount
40000. Kindly also explain for deducting Tds should be
booked under which Head of Tally.

Answer Posted / jashwin

Bank A/c Dr 39200
Tds A/c Dr 800
To Party 40000

Is This Answer Correct ?    1 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

We bought some machines from Singapore (capital goods), payment made in rupees. but the invoice value is mentioned as USD. 1. party ledger shows (debit side) amount in rupees. now i need to make purchase entry. 2. shall i want to convert USD to rupees? 3. if i do like that the party ledger will be differ.. 4. somebody pls tell me the way to make purchase entry.

1030


under which accounting rule prepaid salary?

1779


when the ABC's personal bank to to his business bank money transferred(paid) then how to pass the entry.

1482


what is the difference between cash book(cash coloumn) and cash book(bank coloumn)?

1579


What is the networth percentage observe by banks

1589






what is the meaning of 4X and 10X value in intraday market?

1825


sir I heard from some body that he received more money than requested in an ATM.Is it possible, if yes what is the remedy ?

1485


What does the abbreviation m mean in accounting?

658


1.A Company with a net income of $ 7,650 in a year and has 3,000 outstanding shares. Calculate the Earning per Share (EPS).

1646


What are the two most important Factor that should be kept in mind when there is a buy back of shares in companies as per indian companies act,1956

1641


formula of reduction in tax credit of vat form 201(gujarat)

3751


What happens to the company's "cash account" if it borrows money from the bank by signing a note payable?

669


in Sensex and Nifty, what is the measure to take the points

1602


how to pass journal entries for reverse tax on input tax paid

2162


when an amountis declared as NPA by a bank whether any interest can be debited to that account after the date it is declared as NPA ? What are the guidelines of Reserve Bank of India in this respect ?

2082