Tcs
This query is : Resolved
Guest
Guest
(Querist)
25 September 2011
What is the accounting treatment to claim TCS?
Suppose the client engagged in the business of mining & querrying. e.g. he paid Rs.14,00,000/- for getting the right on mining & querrying. for that he get 26AS tax credit TCS Rs.31436/-(2% on amount actually paid)
what is the accounting treatment in the books of client.
Suppose the client engagged in the business of mining & querrying. e.g. he paid Rs.14,00,000/- for getting the right on mining & querrying. for that he get 26AS tax credit TCS Rs.31436/-(2% on amount actually paid)
what is the accounting treatment in the books of client.
Ram Avtar Singh
(Expert)
25 September 2011
Mining Exps DR 1368564
TCS Paid Dr 31436
To Party 1400000
(Being amt of Bill recd for mining and querrying.........)
TCS Paid Dr 31436
To Party 1400000
(Being amt of Bill recd for mining and querrying.........)
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