18 December 2014
is installation charge on AC to be included with the AC ? Can we claim depreciation on it?
Also I have paid tds on professional fees on salaried employees under current liabilities but it is showing debit bal as only payment entries are there so do I need to enter to the salary entry separately for that? for tds on salary I pass JV for salary p.m. including pt in that so it comes correct
18 December 2014
01. It is better to CAPITALISE the installation charges. Once capitalised, you can onviously claim depreciation on that 02. Pass the entry for Professional Fees (What you are calling it as salary)as Debit Professional Fees 100 Credit Bank/Cash 90 Credit TDS deducted 10
This account of TDS deducted should get knocked off with the DEBIT balance, which you are referring
CAclubindia
