vinaysomsole (student) (26 Points)
03 August 2016
CA Anand V Kabra
(Author Teacher Mentor)
(584 Points)
Replied 27 August 2016
Entries can be down in many ways!
Say for TDS is to be made on Interest exps
1. When passing entry for due
(Create a liability for while booking exps or payment)
Interest A/c Dr 10,000/-
To TDS on Int. 1,000/-
To Bank A/c or Receivers A/c 9,000/-
2. When TDS is deposited
(Balance will be nil then)
TDS A/c Dr 1,000/-
To bank A/c
Anantharaj
(Accountant)
(32 Points)
Replied 30 August 2016
IF there is a Vendor Account exists...
Exp A/c..........Dr
To TDS A/c..........Cr
To Vendor A/c.......Cr
IF there is NO VENDOR Account
Exp A/c..........Dr
To TDS A/c..........Cr
To Expense Payable A/c.......Cr
Patel Jigar Naranbhai
(trainee)
(38 Points)
Replied 31 August 2016
Another Way to right down the entry is :
I)
Exp .A/c Dr 10000
to Vendor A/c 10000
II)
Vendor A/c 1000
To TDS Account 1000
III)
Vendor Account A/c 9000
TDS A/C (at the time pay to Govt.) 1000
to Bank Account 100000
Neethi V. Kannanth
(.)
(19015 Points)
Replied 29 January 2021
What is the entry for the expense payable while giving effect to TDS and GST?
CA Anand V Kabra
(Author Teacher Mentor)
(584 Points)
Replied 26 April 2021
Expenses A/c Dr
GST A/c Dr
To TDS Amount (On Amount of Expenses without GST)
To Vendor A/c (Bal Fig)
Aravindhan
(Sr. Accounts Executive)
(22 Points)
Replied 18 April 2024
Booking provision 31st march
Cr. Provision for Expenses 5701
Cr. TDS on Contract (GL) 114
Dr. Labour Supply (Respective Expenses GL) 5701
Dr. ABC & Co. (Supplier Name) 114
Invoice Booking April (supplier invoice booking
Dr. Provision for Expenses 5701
Dr. IGST @ 18 % 1026
Cr. ABC & Co. (Supplier Name) 6727
Payment made to supplier
Dr. ABC & Co. (Supplier Name) 6613 (Cr. 6727 - Dr. 114)
Cr. Bank (GL) 6613
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