Query 1. Mrs swetha Jain purchased 2 lakh worth goods from mrs komal preethi Jain ,swetha Jain found RS 50000 goods are defective damages... now she is to returns this defective goods
what is the purchase return journal entry here???
what the preethi Jain makes her accounts of books entry of sales return ?? I need sales return journal entry
Query 2
in income tax of TDS interest on securities and interest other than securities what is the difference between of these two please explain me
In the books of Swetha Jain
Purchase return A/c Dr. 50000/-
To Purchase. A/c Cr 50000/-
(purchase return)
In the books of komal Jain .
Sales A/c Dr 50000/-
Sales return. A/c Cr 50000/-
( sales return entry)
TDS on Interest on security means, TDS deducted on Govt securities, Bonds, National saving certificate etc .
TDS on other than securites means , TDS deducted on Interest given by Bank , post office , LIC , UTI etc .
CAclubindia
