We receive samples during the year from our principal supplier of over Rs.56000/- since April 2025 and since the amount has crossed the threshold limit of Rs.20000/-, our principal have debited our account with TDS u/s. 194R of Rs.5600/-. Please guide on the entries to be booked in Tally, so that principal account matches with our account and when matching Form 26AS also TDS claimed matches with income.
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Accounting Entry for samples received from principal supplier
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Samples worth ₹56,000 received from principal are treated as taxable perquisite income. You must record ₹56,000 as income and separately book TDS receivable of ₹5,600. This ensures proper reconciliation with principal account, Form 26AS, and Income Tax Return.
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