Tally account head for marketing service received
Greetings for the Day.
Please suggest me the correct tally account head for the Marketing Services Received on Plot Sale of ours. For this we have to deduct TDS @ 10% is it not?
Kindly Clarify,
Thanks in Advance
M.Chandrasekharan
The Account head if it is Direct Income is Sale of Services
And if Indirect u can create an account named Marketing Income.
Thanks for your immediate reply.
Sorry I have mistakenly mentioned as received. Actually We have been charged Marketing Sevices by the agency. It's and expenses.
Kindly clarify about the Tally expense head for the same.
Thanks in Advance.
M.Chandrasekharan
U can convey ur thanks by hitting the Thanks Button.
Regarding Query:-
It should b charged to Indirect Expenses. The Account Head should b Marketing Expenses.
Regarding TDS and Service Tax:-
TDS is applicable u/s 194C.
Rate:-
Ind/HUF - 1%
Others - 2%
Guest
why tds 10 % , is that by any professionals...
if not than deduct it @ 1 % or 2 %
Thanks and I will do accordingly. The Marketing services is done by a firm of professional and that's why TDS is duducted as 10%. Is it correct or not?
Kindly Clarify,
Best Regards
M.Chandrasekharan
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