Commission received after tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 June 2013
Suppose Mr. A is receiving commission income from Amway after deduction of tax at source (TDS). What will be the accounting entry in the books of Mr. A?
Is the following entry correct?
Mr. A (Capital A/c) .......Dr. 9,000
TDS receivable..............Dr. 1,000
To Amway 10,000
If not, what is the correct entry?
Is the following entry correct?
Mr. A (Capital A/c) .......Dr. 9,000
TDS receivable..............Dr. 1,000
To Amway 10,000
If not, what is the correct entry?
17 June 2013
ok tis correct
17 June 2013
No, it should be
Bank A/c or amway Dr. 9000
TDS receivable Dr. 1000
To Commission Income 10000
Bank A/c or amway Dr. 9000
TDS receivable Dr. 1000
To Commission Income 10000
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