Accounting entry of equalisation levy

1138 views
User Avatar

ARTICLE
752 Points Posted on 26 April 2021
is accounting entry of equalisation levy same as tds entry??
0 Reply Share Follow
On 26 April 2021 at 16:37 Report
Replies (3)
Quick Summary
This discussion clarifies the accounting entry for the Equalisation Levy. It confirms that the accounting treatment is indeed the same as for TDS (Tax Deducted at Source). Both the Equalisation Levy and TDS should be deducted from the gross value of the transaction.

User Avatar

Chartered Accountant
24588 Points Posted on 26 April 2021
It might be same as both TDS and levy should be deducted from gross value
Reply
On 26 April 2021 at 16:59
User Avatar

ARTICLE
752 Points Posted on 26 April 2021
Yeah...thanks
Reply
On 26 April 2021 at 17:23
User Avatar

Chartered Accountant
24588 Points Posted on 26 April 2021
Your welcome
Reply
On 26 April 2021 at 22:44

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Self assessment tax paid not reflected in ITR2 fil
  2. Tax on nps corpus
  3. Tired converting GSTR-1, 2B & 3B to Clean Exce
  4. TDS on under construction property not deducted
  5. GST on Fixed Assets
  6. GST ITC april 22
  7. GST PAYMENT REGARDING
  8. GST Consultation Required – June–Augus
  9. TDS Code for Salary Payment to Non-Resident Intern
  10. TDS on property

More recent discussions | Post

Related Topics :

Loading