hello can any body tell me what are the entries to pass in tally for tds? give me entries with examples? iam working in a pvt company dealing the accounts independently?
pavankumar (accountant) (28 Points)
25 September 2008hello can any body tell me what are the entries to pass in tally for tds? give me entries with examples? iam working in a pvt company dealing the accounts independently?
L KANAGARAJ
(Assistant Manager-Finance)
(615 Points)
Replied 25 September 2008
1. Gateway of Tally----> Voucher Entry (Accounting vouchers)-------> F9 (purchase)-------> Class--> Not applicable.
2. As voucher entry(Ctrl.V)
3. Ref. Bill No & Date
4. Parties A/c Cr Rs. Total Bill Value (-) TDS rate.
TDS on contract A/c Cr. Rs. TDS Rate
Labour charges A/c. Dr. Rs. Bill Value.
CA Kavish Dhingra
(Chartered Accountant)
(125 Points)
Replied 26 September 2008
| Originally posted by :pavankumar | ||
| " | hello can any body tell me what are the entries to pass in tally for tds? give me entries with examples? iam working in a pvt company dealing the accounts independently? | " |
Attachment is TDS rate chart
T.S.Mohana Harish
(Audit Assistant)
(163 Points)
Replied 02 December 2008
how to put tds entry for eg : commission received from Bajaj Allianz Rs 50000, T.DS = 5570 under which heads to be categorised he is a individual pl hel me
T.S.Mohana harish , harish_ts1984 @ yahoo.com
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 28 March 2009
bank a/c Dr. 44430
TDS recievable a/c Dr. 5570
To commission a/c 50000
TDS will be shown under the head advances and will be set off against income tax payable by you
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 04 April 2009
Mr. Pavankumar
Firstly U clarify your querry. There r 2 types of TDS.
1. TDS Receivable : dedcted by the person who make the payment to U
2. TDS Payble : deducted by U, to whom U make the payment .
Please tell mwe which wntries U need
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 04 April 2009
Mr. Pavan
For TDS Receivable U can pass entries in this way
1. If U receive payment : ( Follow Cash system )
TDS Receivable Debit
Bank Debit
Commission Receipts Credit
( or Whatever Income )
If U make provision ( Follow Mercantile basis )
TDS Receivable Debit
Party A/c Debit
Commission Receipts Credit
( or Whatever Income )
TDS Payable : ( Follow Mercantile basis )
Expenses Debit
Party A/c Credit
TDS Payable Credit
In case U make payment ( Follow A/c Cash Basis).
Expenses Debit
Bank A/c Credit
TDS Payable Credit
Pl. U may Call for further detail : Surana, Chennai, 9952967237
K MANJUNATHAN
(Asst Finance Manager)
(27 Points)
Replied 20 February 2014
Thanks Mr.Surana sir.
Manjunatha
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