Entry for salary of tds

For salary payable

salary  exp a/c....dr 

      to tds payable a/c

      to salary payable a/c

For salary Payment

Salary payable A/c ...dr

    to bank a/c

For TDS payment to CG.

tds payable a/c....dr

 to bank a/c.

1) Salary Provision

    Salary exp Ac. Dr. 60000/-

           To Salary Payable Ac. 57000/-

           To TDS on Salary Ac. 3000/-

2) Salary Payment

    Salary Payable Ac. Dr. 57000/-

   To Bank Ac. 57000/-

3) Tds Deposite

  TDS Payable Ac. Dr. 3000/-

 To Bank Ac. 3000/-

Hi All,

    What Mr. Hemant Kumar  told is Correct  , but in my views for Directors not for Salary it is Directors's Remunaration..if it Remunaration the entry are differ..

Thanks

N. Rajendran

Yes Mr Hemant your entry is correct.

In Mr Hemanth's answer, TDS on Salary Ac in the first entry & TDS Payable Ac in the third entry are one and the same.

Hi All

I agree with Mr. N Rajendran.

Originally posted by : Ankur Garg
	Practically speaking there is no difference between director remuneration and director salary.   Strict provisions relating to managerial remuneration are not applicable to a private company. Hence you may give the desired remuneration to your directors subject to the provisions of your articles.   Plz check your Articles.

For more go through following link.:

/forum/details.asp?quote=366522&mod_id=70878#reply

Originally posted by : Bhanugadu
	In Mr Hemanth's answer, TDS on Salary Ac in the first entry & TDS Payable Ac in the third entry are one and the same.

Both entries are different... In first entry made a provision of TDS and in last entry did after deposition the tds amount to government treasury.

HAi ALL,,,

        I agree with hemant.....

Hi Hemant.

We are not saying you are wrong ,according to question you are absolutely right.

Both entries are correct. In case of Tusshar he has mentioned salary payable whereas Hemant has mentioned Salary  Provision. Net effect of both entries remain the same.

1) Salary Provision   :-

Salary exp Ac. Dr. 60000/-  

           To Salary Payable Ac. 57000/-        

            To TDS on Salary Ac. 3000/-

 2)   Salary Payment  :- 

                  Salary Payable Ac. Dr. 57000/-

                                        To Bank Ac. 57000/-

3) Tds Deposite  :-

                        TDS Payable Ac. Dr. 3000/-
                                            To Bank Ac. 3000/-