29 March 2020
Tds is applicable subject to limits 15000 limit under 194H @ 5%
You may account the Tds in payment entry
If commission is 1lac then
1) Commission a/c Dr
To Doctor/RMP
2) Doctor a/c Dr 100000
To Bank 95000
To Tds on Commission. 5000
3)Tds on Commission a/,c Dr 5000
To Bank 5000
Alternatively you can account the Tds in first entry..
31 March 2020
As per the relevant provisions, tax to be deducted if the amount paid or credited or aggregate amount paid or credited in a year likely to be paid or credited exceeds Rs. 15000/-. Considering the question, in a view that assessee is liable to deduct tax subject to other conditions , following entries are to be made. Amount for illustration purpose 1 Lakh. TDS rate 5% payable entry 1. Commission paid (dr) 100000 Doctor name/RMP name 95000 TDS payable 5000 2. At the time of payment Doctor name/RMP name 95000 Bank 95000 3. TDS payament TDS payable 5000 Bank 5000
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