Tax payment from others account
This query is : Resolved
CA SANDIP PATEL
(Querist)
15 January 2011
One of the my client has crossed turnover of Rs.10 lac so that it is mandatory to pay service tax by e-payment but he doesn't konw how to operate so that he want to deposit money in my account and i will pay his service tax from my account using my internet banking.
so how it will be reflected in my account at the time of passing accounting entry for such transaction?
so how it will be reflected in my account at the time of passing accounting entry for such transaction?
C.A.Javid Patel
(Expert)
15 January 2011
Dear Very Sipmle,
1. You just Debit Your client account and show in loans & advances.
2. When you receive the amount from party credit the pary account and hence the party account will tally.
1. You just Debit Your client account and show in loans & advances.
2. When you receive the amount from party credit the pary account and hence the party account will tally.
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