hello friends,
Please tell me the accouning entries of TDS on salaries, comissions and entry of edu.cess.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 26 February 2011
Following is the entry to be passed:-
Salary A/c Dr. XX
(Grouped under Indirect Exps.)
To Bank / Cash A/c XX
(Grouped under Cash / Bank)
To TDS on Salaries A/c XX
(Grouped under Duties & Taxes)
Commission A/c Dr. XX
(Grouped under Indirect Exps.)
To S.Creditor A/c XX
(Grouped under S.Creditor)
To TDS on Salaries A/c XX
(Grouped under Duties & Taxes)
No Eduction Cess is payable while deducting TDS, so no need to credit Education Cess
Regards,
Devendra Kulkarni
CAclubindia
