How to book bill & tds working amt
This query is : Resolved
06 May 2014
Hello Sir,
i want to book bill of freight which amt Rs. 28712.20 now. party has charged 2000 excess now ready to give Credit note but after payment made. but my question is How to Book Bill of rs. 28712.20 & TDS applicable on which amt after deduction or actual bill amt Rs. 28712.20.
Pls guide with Accounting entry with amt.
normally we book entry
Freight Ac DR
to Party Ac CR
Tds deduct @ the time of Payment
Regards
Asha
pls mail me your answer on aasha2903@gmail.com
waiting for your reply.....
i want to book bill of freight which amt Rs. 28712.20 now. party has charged 2000 excess now ready to give Credit note but after payment made. but my question is How to Book Bill of rs. 28712.20 & TDS applicable on which amt after deduction or actual bill amt Rs. 28712.20.
Pls guide with Accounting entry with amt.
normally we book entry
Freight Ac DR
to Party Ac CR
Tds deduct @ the time of Payment
Regards
Asha
pls mail me your answer on aasha2903@gmail.com
waiting for your reply.....
Guest
Guest
(Expert)
06 May 2014
if u calculate tds at the time of payment.. it should b on the actual paid ..
so in your case it will b on full amount then u will get credit note na...
or if u pay lesser amount than tds on the lesser amount..
but my question to you... TDS deduction is done at the time of entry or payment whichever is earlier... so if u book the entry today tds liablity will b created... so if u book with full amount you have to deduct tds and create liablity on the full amount i.e.28712
so in your case it will b on full amount then u will get credit note na...
or if u pay lesser amount than tds on the lesser amount..
but my question to you... TDS deduction is done at the time of entry or payment whichever is earlier... so if u book the entry today tds liablity will b created... so if u book with full amount you have to deduct tds and create liablity on the full amount i.e.28712
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
