Tds Entry.....?????????

This query is : Resolved

CA Atul (Querist)
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01 February 2010 hi friends can anyone help me out for following....

1) I am having bill of legal & professional fees amount RS 16500/- dtd 18.12.09 but instead of deducting TDS Rs 1650/- I have deduct only 1500/- and make a payment of 15000/- but when I came to knw that i have deposited difference of Rs 150/- into the bank for TDS under 194J.
Now I have pass entry for Payment as under;
Party A/c Dr. 16500
To Tds 194J 1500
To Bank 15000

And Journal Entry;
legal & Professional fees A/c Dr 16500
To Party A/c 16500

but my party A/c is not tally it shows diff of Rs 150 which I have deposited later
so what entry shall I pass to adjust party ledger?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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01 February 2010 You need to party to that differnce Rs.150
and credit the TDS account

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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02 February 2010 You have to recover the balance of Rs. 150 from the party. You can request the party that TDS of Rs. 1650 was recoverable and not Rs. 1500. Party will also be issued TDS Certificate for Rs. 1650/-.

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