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.
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.
Thanks, Please show the double entries in books of accounts
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
