Tds on salaries and rent - regarding
This query is : Resolved
16 April 2012
Dear Sir/Madam,
i would like to know the information about TDS on Salaries and Rent how to post the
entries in Tally software kindly provide me entries and examples
Regards
venkat
venkatseven@yahoo.com
i would like to know the information about TDS on Salaries and Rent how to post the
entries in Tally software kindly provide me entries and examples
Regards
venkat
venkatseven@yahoo.com
Mihir Doshi
(Expert)
16 April 2012
TDS on salaries at normal rate of income tax (depend upon the employees salaries)
Rent on building @ 10% while hiring of plant and machinery @ 2%.
Entry:
Rent a/c Dr
To party's A/c
To TDS payable A/c (Rent @ 10%)
At the time of payment
TDS Payable A/c Dr
To Bank a/c
Entry will be same with Salary TDS and payment.
Thanks
Mihir Doshi
Rent on building @ 10% while hiring of plant and machinery @ 2%.
Entry:
Rent a/c Dr
To party's A/c
To TDS payable A/c (Rent @ 10%)
At the time of payment
TDS Payable A/c Dr
To Bank a/c
Entry will be same with Salary TDS and payment.
Thanks
Mihir Doshi
Message likes :
1 times
Murtaza I Bhagat
(Expert)
16 April 2012
agree with expert
CA Prasanna
(Expert)
16 April 2012
Hi all,
The answer is perfect.
Just like to add couple of more points-
1) Use Journal voucher in tally while passing the Rent or Salary entry.
2) Use payment voucher (F5) for recording the payment of TDS and Salary.
Regards
CA Prasanna Subhash Shukla
The answer is perfect.
Just like to add couple of more points-
1) Use Journal voucher in tally while passing the Rent or Salary entry.
2) Use payment voucher (F5) for recording the payment of TDS and Salary.
Regards
CA Prasanna Subhash Shukla
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