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194R Journal entry in the books of a company

TDS 1012 views 2 replies
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Working in Manufacturing Comapny
169 Points Posted on 21 December 2023

Please tell me the journal entry for 194R if Gold Coin of INR 10000 is given to Dealer for achieving the sales target.

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On 21 December 2023 at 17:38 Report
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"Do the Right Thing...!!!"
128147 Points Posted on 21 December 2023
Is there any difficult for this entry...??!
I don't know exactly for the difficult...

But,
we can enter it simply as

Dr. Gift Expenses - XXXX
Cr. Bank A/c - XXXX


If You want any other entry then please reply...
463 Reply
On 21 December 2023 at 21:03
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Accountant
1227 Points Posted on 21 December 2023
Upto 20k no tds.

above entry is correct till 20k crosses to one person.

if gift is above 20k , then deduct tds too.
5 Reply
On 21 December 2023 at 23:58


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