Tally account head for marketing service received

This query is : Resolved

M.Chandrasekharan (Querist)
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12 June 2014 Good Day,

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

Sandeep Dharar

Sandeep Dharar (Expert)
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12 June 2014 If it is ur main source of income then book it under Direct Income and if it is other sources then u must book it under Indirect income.

The Account head if it is Direct Income is Sale of Services

And if Indirect u can create an account named Marketing Income.

M.Chandrasekharan

M.Chandrasekharan (Querist)
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12 June 2014 Dera Mr.Sandeep Dharar,

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

Sandeep Dharar

Sandeep Dharar (Expert)
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12 June 2014 U R Welcome M. Chandrasekharan Ji.

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

Guest (Expert)

12 June 2014 marketing expenses

why tds 10 % , is that by any professionals...

if not than deduct it @ 1 % or 2 %

M.Chandrasekharan

M.Chandrasekharan (Querist)
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12 June 2014 Dear Mr.Sandeep Dharar,

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

Guest

Guest (Expert)

12 June 2014 ya then it is absolutely correct dear...........

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Sandeep Dharar

Sandeep Dharar (Expert)
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12 June 2014 M. Chandrasekharan Ji in that case u R correct. It should b deducted u/s 194J @10%.

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