Entry of rent receivebal after deducted of tds
This query is : Resolved
Roshan jha
(Querist)
03 May 2014
what will be the entry of rent received and rent payable entry
Sandeep Dharar
(Expert)
03 May 2014
First tell me u r deductor or deductee?
Roshan jha
(Querist)
03 May 2014
deductor name is TCR PVT. LTD AND DEDUCTEE NAME IS KESHAV PRAMOTORS PVT. LTD.
Sandeep Dharar
(Expert)
03 May 2014
It means ur TDS is deducted hence entry in the Books of Keshav Promoters should be:-
Bank Dr
To TCR Pvt Ltd
(Being received rent for the period of........ deducting TDS Rs. )
Bank Dr
To TCR Pvt Ltd
(Being received rent for the period of........ deducting TDS Rs. )
Roshan jha
(Querist)
03 May 2014
ACTUAL RENT IS 60000 AND WE GET AFTER DEDUCTION OF TDS 54000 SO TDS AMOUNT IS 6000 AND I WILL POST THE ENTRY IN JOURNAL TCR A/C Dr. 60000, TDS Cr 6000 AND RENT A/C IS 54000 AND IN BANK I POST BANK A/C Dr. 54000 AND RENT RECEIVED Cr. 54000 ARE THESE ENTRY CORRECT AUR NOT... AND ONE MORE THING I WANT TO ASK TO YOU. THAT THE RENT OF FEB 2014 WE RECEIVED IN APRIL 2014 WHAT WILL BE THE ENTRY FOR THIS.
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