TDS

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Mrityunjay

Mrityunjay (Querist)
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06 May 2011 Hi, All

I have deducted tds in advacne and paid to govt

how to adjust in bill

kindly guide me
Mrityunjay

CA Navin Jain

CA Navin Jain (Expert)
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06 May 2011 at the time of payment u have made the following entry

party- dr-100
to bank-90
to tds-10

at the time of enter bill following entry to be made

expenses- dr-100
to party-100

Mrityunjay

Mrityunjay (Querist)
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06 May 2011 we have paid only 50% eg,

Advance amt: 60000
TDS 2% 1200 which is paid to govt

i have received final bill ie Rs /- 100000

how to adjust to this bill

CA Navin Jain

CA Navin Jain (Expert)
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06 May 2011 exp- dr- 100000
to party-99200
to tds- 800

and
party -dr 39200
to bank- 39200

Mrityunjay

Mrityunjay (Querist)
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06 May 2011 but for 100000 2%is 2000

i need adjustment entry for this transction

guide me pls

CA Navin Jain

CA Navin Jain (Expert)
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06 May 2011 at the time of advance payment u have made the following entry

party- dr - 60000
to bank- 58800
to tds- 1200

now make following entry
exp- dr- 100000
to party-99200
to tds- 800

and
party -dr 39200
to bank- 39200