tally entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2010
if house rent is 20000 per month his tds is 2500. then how to entr in payment & journal entry in tally
17 February 2010
Rent (Expenses).Dr Rs.20,000
Bank/Cash ......Cr Rs.17,500
TDS Payable on Rent..Cr Rs. 2,500
Bank/Cash ......Cr Rs.17,500
TDS Payable on Rent..Cr Rs. 2,500
17 February 2010
Agreed with Mr.Rahul, but small suggestion, TDS related transactions you can pass thrugh Journal first crediting the Party Ledger account,furhter you can track tds details easily for TDS return and party reconciliation. so
Rent A/c Dr
TDS- 194I Cr
Party Cr
Payment
Party Dr
Cash/Bank Cr
Rent A/c Dr
TDS- 194I Cr
Party Cr
Payment
Party Dr
Cash/Bank Cr
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