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cash system of accounting
Receipts 100000, tds deducted on 200000, tds 4000. 26as shows payment of RS. 200000, how much income is to be shown and how much tds credit is to be taken.
Replies (2)
What you mean receipts as per your above said view...?
The tds deducted as per your bills. Not on payments.
The tds deducted as per your bills. Not on payments.
Dear Mr. Arvind,
Your Income was Rs. 2,00,000/- on which the TDS was deducted Rs.4,000/- (i.e 2%) which shows that TDS deducted u/s 194C.
Pass follwing entry:-
1) Party Name 1,96,000/-
TDS (A.Y. 2018-19) 4,000/-
To Sale A/c 2,00,000/-
2) Bank/Cash A/c 1,00,000/-
To Party Name 1,00,000/-
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