Professional service
This query is : Resolved
15 January 2015
If professional service charge Rs 50000 and service tax 12.36% plus Tds how will I pass journal entry and payment entry plus 50% payment in cash and 50% in cheque?
15 January 2015
Fees 50000
ST 6180
total 56180
TDS @ 10% 5000 (on basic value)
Entry,
Professional fees Dr.50000
service tax receivable 6180
to party Cr.51180
to tds payable Cr.5000
If service tax credit is not to be taken then debit professional fees with Rs.56180
Entries when 50% payment made in cash and 50% through cheque,
Party Dr.25590
to bank Cr.25590
Party Dr.25590
to cash cr. 25590
ST 6180
total 56180
TDS @ 10% 5000 (on basic value)
Entry,
Professional fees Dr.50000
service tax receivable 6180
to party Cr.51180
to tds payable Cr.5000
If service tax credit is not to be taken then debit professional fees with Rs.56180
Entries when 50% payment made in cash and 50% through cheque,
Party Dr.25590
to bank Cr.25590
Party Dr.25590
to cash cr. 25590
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
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- EPF FULL & FINAL RULES IN 2026
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Experts need help
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
