Accounting treatment of TDS Payable

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118 Points Posted on 30 March 2010

HI All,

Please anyone tell me the accounting treatment of TDS Payable.

Thanks & Regards,

 

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On 30 March 2010 at 15:18 Report
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Example:

Audit fees = Rs. 100

TDS Rate is 10%

Journal entry

Audit fees a/c     100

       To Party's Name a/c         90

       To TDS Payable a/c          10

when you pay TDS to the govt

TDS Payable a/c         10

       To Bank  a/c                    10

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On 30 March 2010 at 15:35
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ERP FINANCIAL CONSULTANT
85 Points Posted on 30 March 2010

i agreed with above question
 

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On 30 March 2010 at 15:44


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