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 / mamta chaudhary
Three entries will be passed
Entry for Due
1) Rent A/c Dr.
To Landlord account
To Tds on Rent
Entry for transfer
2) Tds on Rent A/c Dr.
To Tds Payable Account
Entry for payment
3) Tds Payable A/c Dr.
To Bank/Cash Account
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