is the entry right
This query is : Resolved
19 April 2008
if the financial year closed 2007-08 and bill received for the month of March-08 as on 08.04.2008. bill of courier.
in such case the entry is
postage & courior A/c Dr
To expenses payable
To TDS on contractor
entry for next year
expenses payable a/c dr.
To XYZ
is it right.
in such case the entry is
postage & courior A/c Dr
To expenses payable
To TDS on contractor
entry for next year
expenses payable a/c dr.
To XYZ
is it right.
19 April 2008
WRONG DEAR,
In 2007-08:
Postage & Courier a/c DR.
To Expenses payable/outstanding expenses/provision fro expenses.
In year 2008-09:
Expenses Payable/outstanding expenses/provision fro expenses a/c Dr.
To XYZ
To TDS
But you have paid before above credit entry then you have to deduct tds that time only and not as above..
In 2007-08:
Postage & Courier a/c DR.
To Expenses payable/outstanding expenses/provision fro expenses.
In year 2008-09:
Expenses Payable/outstanding expenses/provision fro expenses a/c Dr.
To XYZ
To TDS
But you have paid before above credit entry then you have to deduct tds that time only and not as above..
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
- CLOSING STOCK QUERY
- Taxation on Old jewellery sold
- ITR-Capital Gain
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Reporting in TDS return
- Error in uploading Form 10BD
- Query regarding reporting of exempt foreign remuneration in ITR
- F&O reporting in ITR
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
