TDS on payment made on our behalf
This query is : Resolved
13 September 2008
If a person made payment on our behalf to contractor & deduct tds. Is there any liability on us towards deduction of tds on payment made to person who has payment made on our behalf.
13 September 2008
No, but for proper accounting entries in the books of acount.
13 September 2008
What accounting entry we will pass.
15 September 2008
Take An Example
Suppose B Makes Payment of Profeesional Fees of 9000 after Deducting 1000 as TDS.
on behalf of A To C.
In The Books of C
1)Bank A/c.......................Dr 9000/-
TDS On Profession A/c..........Dr 1000/-
To Professional Fees A/c 10000/- or
To A's A/c 10000/-
In the Books of B
2)A's A/c................Dr 9000/-
To Bank A/c 9000/-
In The Books Of A
3)Professional Fees/C's A/c....Dr 10000/-
To B's A/c 9000/-
To TDS On Professional 1000/-
Suppose B Makes Payment of Profeesional Fees of 9000 after Deducting 1000 as TDS.
on behalf of A To C.
In The Books of C
1)Bank A/c.......................Dr 9000/-
TDS On Profession A/c..........Dr 1000/-
To Professional Fees A/c 10000/- or
To A's A/c 10000/-
In the Books of B
2)A's A/c................Dr 9000/-
To Bank A/c 9000/-
In The Books Of A
3)Professional Fees/C's A/c....Dr 10000/-
To B's A/c 9000/-
To TDS On Professional 1000/-
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Not able to file ITR
- Building tax payment deduction in rental Income
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
