Accounting Entery
This query is : Resolved
18 March 2009
Dear Sir Plz help me how should i take entery in my office contrct salary will issue Rs 50000 for X agency in that Rs 1000 deducted for TDS on 15.2.09 But TDS Amount Remited on 22.2.09 to Bank i have taken in cash book on 15.2.09 contract Salary A/c dr Rs 49000 to Bank A/c & TDS Payable A/c Dr 1000 to Bank A/c 1000 is it wirte plz give example
18 March 2009
The Entry will be as follows,
1. At the time of making the payment to Agency,
Contract Salary A/c Dr 50000
To TDS Payable A/c 1000
To Bank A/c 49000
2. At the time of remitting the TDS,
TDS Payable a/c Dr 1000
To Bank A/c 1000
1. At the time of making the payment to Agency,
Contract Salary A/c Dr 50000
To TDS Payable A/c 1000
To Bank A/c 49000
2. At the time of remitting the TDS,
TDS Payable a/c Dr 1000
To Bank A/c 1000
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