How to pass tds entry on cash withdrawal
This query is : Resolved
24 March 2020
hi sir,
this is santhosh from hyd i need one help this current year from our company 1 crore above cash withdrawal-ed by bank they are deducted 2% tds how to pass tds entry on cash withdrawal in tally pls do help
this is santhosh from hyd i need one help this current year from our company 1 crore above cash withdrawal-ed by bank they are deducted 2% tds how to pass tds entry on cash withdrawal in tally pls do help
24 March 2020
Hi,
is the Tds seperately debited from bank account?
If yes then
Tds Asset -2019-20 FY A/c Dr
To Bank
24 March 2020
Cash A/c Dr.
TDS A/c Dr.
To Bank A/c
TDS A/c should be grouped under Asset.
TDS A/c Dr.
To Bank A/c
TDS A/c should be grouped under Asset.
26 March 2020
But when cash and bank both comes in an entry then it will be contra entry and Tds can't be passed in the same entry in practice
05 May 2020
We can tweak Tally ERP a littile to get the CONTRA Entry posted with TDS Effect otherwise we can also post the entry as Journal Voucher.
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
