TDS JOURNEL ENTRY
This query is : Resolved
22 September 2022
Hello sir, I have query..... we paid the commission 20,000/- and by mistake we did the full payment without any deduction,, next payment we deduct the above tds amount also. what's pass the entry?
1)
COMMISSION PAID A/C DR 20000
SHORT & EXCESS A/C DR 1000
TO BANK A/C 20000
TO TDS 10000
2) NEXT PAYMENT ENTRY
COMMISSION PAID A/C DR 15000
TO BANK A/C 13250
TO TDS A/C 750
TO SHORT & EXCESS A/C 1000
It is entry right or worng?
1)
COMMISSION PAID A/C DR 20000
SHORT & EXCESS A/C DR 1000
TO BANK A/C 20000
TO TDS 10000
2) NEXT PAYMENT ENTRY
COMMISSION PAID A/C DR 15000
TO BANK A/C 13250
TO TDS A/C 750
TO SHORT & EXCESS A/C 1000
It is entry right or worng?
22 September 2022
1) COMMISSION PAID A/C DR 20000
TO BANK A/C 20000
2) NEXT PAYMENT ENTRY COMMISSION PAID A/C DR 15000
TO BANK A/C 13250
TO TDS A/c 1750
That's the entry.
TO BANK A/C 20000
2) NEXT PAYMENT ENTRY COMMISSION PAID A/C DR 15000
TO BANK A/C 13250
TO TDS A/c 1750
That's the entry.
22 September 2022
but sir first entry is april month( tds deposit ) and second entry is july month . What should i do
22 September 2022
No problem in passing the entry but pay interest for late deduction of TDS
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