Accounting treatment in cash book...
Querist : Anonymous
Problem: I.Tax deducted from contractors payment but not credited.How to account for in the cash book...
contractor bill dr.
to bank
when tds paid:-
contractor bill tds(expoenses) dr.
to bank a/c
Querist : Anonymous
DECEMBER
LEGAL CHARGES 15000
IT 1500
WHAT WILL BE THE ENTRY?CAN U PLEASE TELL ME..
LEGAL CHARGES IS IMMEDIATELY PAID, BUT TDS PAYABLE TO IT DEPT NEXT MONTH...AND HOW WILL IT BE REFLECTED IN THE CASH BOOK.
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