Tds

This query is : Resolved

Kumar (Querist)
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28 May 2017 Hi

we are paying every month rent deducting 10% TDS rent is Rs.40000/- TDS is Rs.4000/- and payment Rs.36000/- pm as rent where to show this TDS amount in Profit and loss a./c are in balance sheet.

i am confuse of

profit and loss a/c debit side
Balance Sheet liabilities side

Thanking you

Kumar

Sumeet

Sumeet (Expert)
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29 May 2017 Journal Entry for your transaction will be: Rent A/c Dr 40000 To Party A/c 36000 To TDS Payable A/c 4000 Hence full rent will go to profit and loss account and TDS payable if any o/s on balance sheet date will be shown on liability side. Hope this solves your query.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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29 May 2017 Entry for this is Rent A/c To TDS Payable To Bank TDS Payable To Bank Second entry passed on payment of TDS Rent will go to P&L. Any Balance in TDS a/c(Deduct but not deposit) is shown in Liability Side of Balance Sheet.

Kumar

Kumar (Querist)
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29 May 2017 TDS deducted and payment made through online and received form 16, where that form 16 amount to be put, means in balance sheet or profit and loss a/c

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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27 July 2025 https://docs.google.com/document/d/1NNflep1iNhufEHpf93pKwSf3mP9vHHXvUHdAqa8a9zE/edit?usp=sharing

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