Entry for salary of tds

Page no : 2

Abhishek Verma (Article assistant ) (31 Points)
Replied 25 June 2015

hello friends..what is the difference between tushar's answer and hemant's it is just that tushar's answer is without figures..is there any other technical diffrence

Kumar Gaurav (Going...to be C.A soon...) (1624 Points)
Replied 27 June 2015

Practically there is no difference between Mr. Tushar and Mr. Hemant replies. both are the same.

Umasankar Reddy (Senior Executive Finance and HR) (27 Points)
Replied 27 June 2015

if director taking monthly should be call remunaration. whereas staff will be salaries and workers will be wages.

szl Agarwal (article) (257 Points)
Replied 26 May 2016

Sir/Mam,

I think TDS is applicable on payment basis only in case of Salary.

Suppose - Salary for the month of March is paid in June

March

Salary Expenses Account Dr. 10000

To Salary Payable Account 10,000

June

Salary Payable account Dr. 10,000

To TDS Payable 1,000

To Employee/ Bank 9,000

On or Before 07-July

TDS payable Dr. 1,000

To Bank 1,000

Suggest me Wheather i am right or Wrong.???

As TDS will be applicable only at the time of Payment and Liability for TDS will be arised only on Payment Basis.

sudalay dhas (Accounting) (51 Points)
Replied 28 May 2016

Dear sir, There is difference between salary and director remuneration. In my point of view entry will be as below.

1.Expense Entry :-

Director Remuneration A/C Dr. xxxxxx

To Director Name A/c xxxxx

To Tds payabel A/c

2.Payment Entry :-

Director Name A/c Dr xxxxxxx

To Bank A/c xxxxxxx

3.Tds payment Entry :-

Tds payable A/c Dr. xxxxxxx

Bank A/c xxxxxxx

If any mistake Pls. let me know.

Siddharth Goel (Chartered Accountant) (3026 Points)
Replied 04 July 2018

Originally posted by : Hemant Kumar
	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/-

This entry is the most appropriate treatment of the salary payable and shpould be followed in case of any conflict.

Gaurav Bohra (A/C) (22 Points)
Replied 31 August 2018

Salary Account is under which head? Salary Payable is Under Which head?

Rupali (Accountant) (22 Points)
Replied 12 February 2019

What type of account is TDS on salary and TDS payable? Liability account na? Also whats done with amount sitting in tds on salary a/c since amount is credited to tds on salary in first entry and tds payable is debited in third entry?

Please clarify..

Thanks,

Rupali