Journal entry in the books of LLP and Partners Books

This query is : Resolved

Daya (Querist)
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08 August 2023 how to make journal entry in the books of Partners Books
In The LLP there are three partners and theirs profit sharing ratio is A-50%, B-40% and C 10%
we passed journal entry in the books of LLP on 31st March 23
Partner A Dr - Rs, 50,00,000
Partner B Dr. - Rs, 40,00,000
Partner C Dr. - Rs. 10,00,000
To Advance Tax FY 2022-23 Rs. 80,00,000/-
To TCS Receivable Rs. 10,00,000/-
To TDS Receivable Rs. 10,00,000/-
My question is that also
How to Make journal entry in the books of partners TDS , TCS and TDS transferred to partners account Rs. 1,00,00,000.
Please reply.

Manish

Manish (Expert)
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08 August 2023 May I know the reason for this journal entry?

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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20 August 2023 This needs more details and clarity. Why we are debiting partners for firms advance tax liability ?

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