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Credit Note --very urgent ..please help

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This query is : Resolved

Sim Parekh (Querist)
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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

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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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

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