Journal entry
This query is : Resolved
01 April 2012
what is the journal entry for rent received ,deducting tds and inclusive of service tax.
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
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
10 April 2012
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