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Tds entry

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(Querist)
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?
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CA Devanand Jethanandani

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CA Devanand Jethanandani (Expert)
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
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