Expense
This query is : Resolved
Bhavesh N Patadia
(Querist)
17 January 2013
Dear Sir
Please guide me regarding Accounting treatment of Exp. If 15000 paid towards Water Chartges then in what head the entry be treated ?
Please guide me regarding Accounting treatment of Exp. If 15000 paid towards Water Chartges then in what head the entry be treated ?
CA Priyank Singhi
(Expert)
17 January 2013
You should debit it in PL Account and treat it as an expense simply.
17 January 2013
Water Expenses Dr 15000
TDS on Contract Cr 1500
Creditor Cr 13500
TDS on Contract Cr 1500
Creditor Cr 13500
CA Prashant Gupta
(Expert)
17 January 2013
water chareges Dr. 15000
To creditors 15000
It is assumed that it is only payment. So no TDS required. But if there is more payments and TDS liability occures then
water cahrges Dr. 15000
To TDS on contractor 300
To creditor 14700
I assumed he is not individual so 2% TDS taken.
To creditors 15000
It is assumed that it is only payment. So no TDS required. But if there is more payments and TDS liability occures then
water cahrges Dr. 15000
To TDS on contractor 300
To creditor 14700
I assumed he is not individual so 2% TDS taken.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Gst registered proprietorship firm
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- Non filing of I T Returns
- Capitalgain tax purposes for valuation report compulsory
- SALARY CAN BE CAPITALIZE
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
