Tds entries
This query is : Resolved
12 May 2014
I use to pay rent for property rs 51000 per month, end of the financial year how shoul i make entries for TDS in my account book after payment of TDS.
12 May 2014
1)
Rent A/c Dr Rs 51000
To TDS Payable on Rent A/c Rs 5100
To Bank A/c Rs 45900
(Being Rent paid after deduction of TDS)
2)
TDS Payable on Rent A/c Dr Rs 5100
To Bank A/c Rs 5100
(Being TDS Deposited)
Rent A/c Dr Rs 51000
To TDS Payable on Rent A/c Rs 5100
To Bank A/c Rs 45900
(Being Rent paid after deduction of TDS)
2)
TDS Payable on Rent A/c Dr Rs 5100
To Bank A/c Rs 5100
(Being TDS Deposited)
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