Tds & service tax
This query is : Resolved
Anand yadav
(Querist)
01 January 2015
If we will receipt bill for professional fees,how the journal entry will pass(with included TDS & SERVICE TAX)
for eg. if professional fees is RS.500000.
for eg. if professional fees is RS.500000.
CA. Anoop Bhatia
(Expert)
01 January 2015
I think entry could be passed like this:
Bank A/c Dr.
Tax Deducted at Source Dr.
Service Tax Receivable/Paid/Credit Dr.
To Professional Fees.
If you are entitled for cenvat credit of service tax you can knock off the credit for future service tax due or otherwise it can be knocked off against the P&L a/c.
Bank A/c Dr.
Tax Deducted at Source Dr.
Service Tax Receivable/Paid/Credit Dr.
To Professional Fees.
If you are entitled for cenvat credit of service tax you can knock off the credit for future service tax due or otherwise it can be knocked off against the P&L a/c.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
