Ragarding tds journal entry
This query is : Resolved
01 June 2017
Dear Experts
A trading firm is Paying Rent of 38000 per month.
Firm deducted tds on rate of 10 percent and paid 38000 - 3800 = 34200 to owner by cheque and paid tds of 3800 through cash in bank Please tell me journal entry about all these steps and also tell under which account head tds deducted should open in accounting software
A trading firm is Paying Rent of 38000 per month.
Firm deducted tds on rate of 10 percent and paid 38000 - 3800 = 34200 to owner by cheque and paid tds of 3800 through cash in bank Please tell me journal entry about all these steps and also tell under which account head tds deducted should open in accounting software
01 June 2017
Rent A/c Dr 38000
To TDS 3800
To Bank A/c 34200
To TDS 3800
To Bank A/c 34200
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01 June 2017
Rashmi Ji Thanks a lot. Please also tell under which account head Tds A/c Should open in payables or any other??? Please Suggest
05 June 2017
current liabilty....tds payable account
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05 June 2017
Its shown in other current liability head
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