A NGO OPERATE 8 YEARS BEFORE BUR FROM PREVIOUSLY 8 YEAR THERE IN NOTHING TO ANY TRANSACTION IN NGO NOW I WANT START THIS NGO AGAIN THEN HOW CAN I START AGAINIS THERE IS ANY PERMISSION REQUIRED FROM INCOME TAX OR TO RENEW ANY LICENSE FROM RESPECTIVE AUTHORITY
Journal Entry for your transaction will be:
Rent A/c Dr 40000
To Party A/c 36000
To TDS Payable A/c 4000
Hence full rent will go to profit and loss account and TDS payable if any o/s on balance sheet date will be shown on liability side.
Hope this solves your query.