Journal entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2014
ours is a pvt ltd co. we made an advance payment to a pvt ltd co towards AMC of rs 35000/- agnst work order & balance pmt to be made after the tenure expires.we deducted TDS @2% on the adv amount & paid Rs. 34300/-.Now the party has given us a bill agnst this payment which incl ser.tax & gross bill amt is Rs.39326/-.my query is what will be the Journal entries for this entire event. plz help its urgent
28 June 2014
give credit of full amount to party
Expenses Dr
Ser tax Dr
Edu Cess Dr
S & H cess Dr
To party
then deduct TDS on balance amount
party Dr
To TDS Payable
Expenses Dr
Ser tax Dr
Edu Cess Dr
S & H cess Dr
To party
then deduct TDS on balance amount
party Dr
To TDS Payable
28 June 2014
expenses a/c
service tax receivable a/c
to party
to Tds payable
another entry
party a/c
to bank a/c
tds a/c
to bank
service tax receivable a/c
to party
to Tds payable
another entry
party a/c
to bank a/c
tds a/c
to bank
30 June 2014
agreed with arun....................................
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- IT returns for fresh job holders
- Difff in ais receipts and gst turnover
- TAX AUDIT QUESTION
- Reporting in TDS return
- Traces submitting correction statement error
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- 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
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
