Reconciliation of Brokerage with TDS
This query is : Resolved
Manasa Ranjan Samal
(Querist)
25 August 2009
I have deducted TDS @10.3% from broker & deposited into Govt.A/c. The entry of TDS has been passed at the time of payment (but not at the time of due). Now the TDS amount on brokerage @10.3% is not being tallied with actual TDS deducting deposited. How I will reconcile the brokerage with TDS. If varied, then how it will be rectified?
03 September 2009
First you understand that TDS is not your expenses.
Create Following A/c
TDS Payable under Current Liability
(At the time of Deduction of payment
Party A/c Dr.
To TDS Payable a/c
And
At the time of Payment
TDS Payable A/c Dr.
To Bank/Cash A/c)
So, Go through this entry
Create Following A/c
TDS Payable under Current Liability
(At the time of Deduction of payment
Party A/c Dr.
To TDS Payable a/c
And
At the time of Payment
TDS Payable A/c Dr.
To Bank/Cash A/c)
So, Go through this entry
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
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- GST on reimbursement of expenses
- Query on effect of registration of property
- Whether output tax is taken credit by purchaser
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
