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Journal entry

This query is : Resolved 
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(Querist)
01 April 2012 what is the journal entry for rent received ,deducting tds and inclusive of service tax.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
02 April 2012 At the time of raising invoice, you would have passed the following entry:

Lessee A/c Dr
To Rent
To Service Tax Payable

At the time of receipt the entry will be as under:

Bank A/c Dr
TDS A/c Dr
To Lessee A/c

At the time of deposit of service tax, entry will be:

Service Tax Payable A/c Dr
To Bank A/c
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
10 April 2012 The expert has given you the correct reply and I also agree with this.
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