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Tds on commission

This query is : Resolved 
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(Querist)
19 July 2013 A PERSON HAS BEEN PAID COMMISSION OF 4900
NOW HE HAS BEEN PAID 300 RS?
HOW COMMISSION WILL BE PAID AND WHAT WILL BE THE ENTRIES?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
19 July 2013 On 1st payment TDS was deducted or not?

If not Deducted:


Commission A/c Dr Rs 300
Party A/c Dr Rs 220
To TDS Payable A/c Rs 520

You will have to collect a further Rs 220 from part on account of TDS.
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CA Kapil Verma

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CA Kapil Verma (Expert)
19 July 2013 TDS should be deducted on entire amount of rs 5200/- @ 10%.

so now the entry should be

Party Dr. 120
Commission 300
To TDs Payable 520.

and rs 120/- should be collected from party.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
19 July 2013 Dear Kapil Ji...Please correct. It will be Rs 220 and not RS 120.
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