Credit Note --very urgent ..please help
This query is : Resolved
Sim Parekh
(Querist)
25 March 2010
Dear Expert,
Pleass guide
I have a transaction wherein i charged commission to a Party X with service tax.
Party A/C ...Dr 179238
To Commission ....cr 162500
To Service Tax ...cr 16738
Amount received from party
Bank Dr. 161314
TDS dr 17924
To Party A/C 179238
I have been asked to pay him only the amount which he had pay i.e. 161314/- the TDS will be paid to him only when we receive credit
What amount of credit note should i issue & what should be the entry
Please please please guide......
Thanks & Regards
Sim
Pleass guide
I have a transaction wherein i charged commission to a Party X with service tax.
Party A/C ...Dr 179238
To Commission ....cr 162500
To Service Tax ...cr 16738
Amount received from party
Bank Dr. 161314
TDS dr 17924
To Party A/C 179238
I have been asked to pay him only the amount which he had pay i.e. 161314/- the TDS will be paid to him only when we receive credit
What amount of credit note should i issue & what should be the entry
Please please please guide......
Thanks & Regards
Sim
CA Ashok Kumar Sahu
(Expert)
25 March 2010
no credit note & entry required for TDS Deduct by party above two entries are sufficient.
you make TDS receivable a/c instead of TDS a/c in the Current assets group.
receive Form No. 16A from party
you make TDS receivable a/c instead of TDS a/c in the Current assets group.
receive Form No. 16A from party
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