Regarding voucher entry in tally erp 9

This query is : Resolved

Akhilesh Kumar (Querist)
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27 December 2014 Dear All,

I am working as a sole accountant in a private firm please help me in making an entry Bcoz as per new rule now we are deducting TDS on bill Amount not on Including Service tax.
Presently i am doing entry as bellow mentioned:
For Service rendered :
Dr. Party A/c
Cr. Consultancy charges
Cr. Service tax

For payment received

Cr. Party A/c
Dr. Bank A/c
Dr. TDS Receivable.

Please guide me in making entries as per new rules.

Ketan Shah

Ketan Shah (Expert)
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27 December 2014 You can pass entries as below:
1. For Provision of service on raising the invoice:
Client A/c Dr
To Income ( Nature of Income) A/c
To Service Tax A/c

2. For TDS- Tax deducted at applicable rate on service value:
TDS FY____ A/c Dr
To Client A/c

3. On receipt of payment:
Bank a/c Dr
To Client A/c

Akhilesh Kumar

Akhilesh Kumar (Querist)
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27 December 2014 Hii Ketan,

Thanx But the entries done by me and you are same if we combined your entry. can you please provide an exmaple.

Ketan Shah

Ketan Shah (Expert)
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27 December 2014 Kindly provide some inputs for example.

Akhilesh Kumar

Akhilesh Kumar (Querist)
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27 December 2014 Invoice raised.

Inv 1 : Bill amount: 14617.00
Service tax: 1807.00
Inv 2 : Bill amount: 57328.00
Service tax: 7086.00

Now had party made the payment of Rs. 73643.00 after deducting TDS on Bill amount.
Pls suggest entry for JV and BR both.

Ketan Shah

Ketan Shah (Expert)
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27 December 2014 Kindly provide the rate at which tax is deductible by client.

Akhilesh Kumar

Akhilesh Kumar (Querist)
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27 December 2014 PERCENTAGE OF TAX 10%

Ketan Shah

Ketan Shah (Expert)
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27 December 2014 Please see below reply:

1.Entries for recording service bills i.e. income recognition:

a.Client A/c Dr. 16,424
To Income A/c 14,617
To S tax A/c 1,807
Bill No 1 Accounted

b.Client A/c Dr. 64,414
To Income A/c 57,328
To S tax A/c 5,733
Bill No 2 Accounted

2.For recording the tax deducted by client:

TDS FY ____ A/c Dr 7,195
To Client A/c
Tax deducted @ 10% on service value of Bill No 1 & 2

3.On receipt of payment:

Bank a/c Dr 73,643
To Client A/c 73,643
Payment of Bill No 1 & 2 Received

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Akhilesh Kumar

Akhilesh Kumar (Querist)
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27 December 2014 thanx a lot for you support.

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