Accounting entry for tds on rent

finance advisory


 rent for the month 350000 rent paid 31500 tds on rent 3500 

how to pass accounting entries in tally?

Consultant & Teacher(Whatsapp 8718057907)

Rent Dr. 35000
To Bank 31500
To TDS Payable 3500

TDS Payable 3500
To Bank 3500
(When TDS deposited)

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how to pass rent Income Entry with gst /tds in tally.

how to pass rent expense Entry with gst/tds in tally

Asst. Manager - Accounts & Taxation

Hi Mihir, If we assume that GST will also liable in this example, Then entry would be as below for rent as expense.

Rent Expenses A/C  Dr. 35,000/-

Input CGST @ 9% Dr. 3,150/-

Input SGST @ 9% Dr. 3,150/-

To TDS Payable 3,500/-

To Bank A/C 37,800/-

& after that

TDS Payable Dr. 3,500/-

To Bank A/C 3,500/-

(At the time of TDS Deposit)

If Rent is Our Income then entry would be.

Party A/C Dr. 4,13,000/-

To Rental Income A/C 35,000/-

To CGST 3,150/-

To SGST 3,150/-



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