Tds entry
This query is : Resolved
14 July 2014
Labour charges incurred Rs.10,000 which is paid to Mr.singh the contractor.what will be the journal entry for the transaction and the TDS amount and the section?
14 July 2014
Hi Chirag,
Labour charges Dr.10000
To Mr. singh Cr.9900
To TDS payable on contract Cr. 100
TDS will be u/s. 194C
At the time of depositing TDS with govt.,
TDS payable on contract Dr.100
To bank Cr.100
Labour charges Dr.10000
To Mr. singh Cr.9900
To TDS payable on contract Cr. 100
TDS will be u/s. 194C
At the time of depositing TDS with govt.,
TDS payable on contract Dr.100
To bank Cr.100
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