Tds

This query is : Resolved

sumit (Querist)
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19 July 2013 Dear experts

Please explain me TDS Entry :- for example
i have done the work for Rs.1,00,000/- i have
received the payment from party Rs.98,000/-
Rs.1000/- for TDS & Rs.1000/- for Retain money , please explain me what is entry for me.

Ganeshbabu K

Ganeshbabu K (Expert)
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19 July 2013 1)Ganesh babu k A/C Dr. 1 Lakh
To Work charges 1Lakh

(being invoice raised to ganeshbabu k for work charges)

2)TDS receivable A/c Dr.2000
Cash/Bank A/c Dr.98000
To Ganesh babu k A/c 1 Lakh

(being amount received for inv.xxx)

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