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if we sell 2000 in snapdeal & received 1800 in bank & 200 is commission after deduction tds
5% in 200 rs 5 . what entry should be all this
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1. When order is received on Snapdeal:
Dr. Buyer A/c
Cr. E-Commerce Sales
Cr. Applicable Taxes
2. For the aforesaid order, payment receivable from Snapdeal:
Dr. Jasper Infotech Pvt. Ltd.
Dr. Standard Marketing Fee
Dr. Payment Collection Fee
Dr. Logistic Fee
Cr. Buyer A/c
3. When payment is received in bank account from Snapdeal:
Dr. Bank Account
Cr. Jasper Infotech Pvt. Ltd.
4. When TDS is deducted by seller on commission of Snapdeal:
Dr. Jasper Infotech Pvt. Ltd.
(Since commission is deducted by Snapdeal from the seller payout beforehand)
Cr. TDS Payable
5. After filing of TDS return you can claim the amount of TDS from Snapdeal by uploading the Form 16A in the Seller Panel.
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