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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
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Ganeshbabu K

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Ganeshbabu K (Expert)
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
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Ganeshbabu K

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Ganeshbabu K (Expert)
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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