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(Querist)
19 April 2015 Goodevening everyone,
My query is suppose Mr X had made a sale of Rs 5000 and the party has paid the amount after transfer charges i.e., 4950 ( Rs.50 for NEFT). what should be the treatment of this transaction?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
19 April 2015 Bank A/c Dr Rs 4950
Bank Charges A/c Dr Rs 50

To Sales A/c Rs 5000
(Being sale proceeds received after deduction of NEFT Charges.)

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