Accounting entry for rent payment
This query is : Resolved
17 June 2016
There are 3 person Mr.A Mr.B & Mr.C. Mr. A gives premises on rent to Mr. B. but Mr.C pays rent on behalf of Mr.B.
So what will be the Accounting entry in all the 3 individual books.
So what will be the Accounting entry in all the 3 individual books.
17 June 2016
A's books ... ....debit cash/bank....... credit rent received
B's books...... ...debit rent........... credit C
C's books....... debit B.........credit cash/bank
B's books...... ...debit rent........... credit C
C's books....... debit B.........credit cash/bank
18 June 2016
can you please tell the entry by giving TDS effect
18 June 2016
A's books...... debit bank/cash, debit TDS........credit Rent received
B's books....... from audit trail perspective, it is advisable to pass the entries as follows
for rent due..... debit rent, .....credit A's account....credit tds deductible
when C pays the rent..... debit A's account, debit TDS deductible..........credit C's account
C's books....... debit B's account....credit Cash/Bank
B's books....... from audit trail perspective, it is advisable to pass the entries as follows
for rent due..... debit rent, .....credit A's account....credit tds deductible
when C pays the rent..... debit A's account, debit TDS deductible..........credit C's account
C's books....... debit B's account....credit Cash/Bank
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- REGARDING GST LIABILITY/....
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Suggestions required for income tax filing-software (FY 2025-26)
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
