Tcs entry in tally
This query is : Resolved
28 December 2017
Hi,
Kindly help me in TCS journal entry. we have purchased a machine of Rs. 50,00,000/-. we have paid by Loan Rs. 30,00,000/-, Rs. 100,00,000/- bank transferred by another person and Rs. 10,00,000/- cash deposit in seller's account , what happen . machine seller has TCS tax deposited to gov. on our pan number on last cash deposited ten lakh.
please help in entry. how to make entry of it.
best regards,
Mohd Nasruddin
Kindly help me in TCS journal entry. we have purchased a machine of Rs. 50,00,000/-. we have paid by Loan Rs. 30,00,000/-, Rs. 100,00,000/- bank transferred by another person and Rs. 10,00,000/- cash deposit in seller's account , what happen . machine seller has TCS tax deposited to gov. on our pan number on last cash deposited ten lakh.
please help in entry. how to make entry of it.
best regards,
Mohd Nasruddin
29 December 2017
machine a/c.....dr 50
tcs a/c.........dr 0.10
to loan 30
to person 10
to cash 10
to M/c party name 0.10
if machine party deduction in machine value then machine cost 49.90.
tcs a/c.........dr 0.10
to loan 30
to person 10
to cash 10
to M/c party name 0.10
if machine party deduction in machine value then machine cost 49.90.
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