Entry for salary of tds

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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 

Replies (24)

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 

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

 

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

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.

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.

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.

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

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

sir 

please answer 

          every month salary TDS paid but not paid salary for 6 month .12 months TDS already paid .how to enter the ledger .

sir ye entry to company kr di ab jise salary mili hai wo apne book me kaise entry karega


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