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Querist : Anonymous

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Querist : Anonymous (Querist)
24 October 2013 Sir,
Q1.We have made payment in favor of Properitors House Rent 41,000 3 time in current year

pl suggest what should be the entry.
is it require to deduct TDS

24 October 2013 if propreitor is making house rent payment it is personal nature and treated as drawings from his capital
.
.
as it is personal nature no tds required

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 October 2013 it means entry would be
Rent a/c Dr. amt
To Capital Account amt

Capital a/c will come under Capital a/c?

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 October 2013 PL REPLY

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 October 2013 Sir,
What Pl Reply me.

Thanks

25 October 2013 as it is personal transaction it should be adjusted in capital account
.
.
so entry will be

Dr.CapitalA/c
Cr.BankA/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 October 2013 Thanks sir


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