Entry for tds

TDS / TCS 450 views 2 replies

ACCOUNTS EXECUTIVE

27 Points Posted on 30 July 2011

A CLIENT DEDUCED T.D.S @ 2% ON RS.505080. AND WE PASSED A ENTRY FOR THIS

1) PARTY A/C DR. 515181

TO PROFESSIONAL INCOME CR.515181

2) TDS REFUNDABLE DR. 10101

TO PARTY A/C CR. 10101

3) BANK A/C DR.505080

TO PARTY A/C CR.505080

IS THIS ENTRY IS RIGHT ?

Replies (2)

priyankaom123@gmail.com

96 Points Posted on 30 July 2011

Originally posted by : KHUSHHALL
	A CLIENT DEDUCED T.D.S @ 2% ON 505080. AND WE PASSED A ENTRY FOR THIS 1) PARTY A/C DR. 515181 TO PROFESSIONAL INCOME CR.515181 2) TDS REFUNDABLE DR. 10101 TO PARTY A/C CR. 10101 3) BANK A/C DR.505080 TO PARTY A/C CR.505080 IS THIS ENTRY IS RIGHT ?

yes the entry is correct....we can also merge the first two entries and make the entry to be passed once.........

CA IN PRACTICE

16719 Points Posted on 30 July 2011

Originally posted by : KHUSHHALL
	A CLIENT DEDUCED T.D.S @ 2% ON Rs. 505080. AND WE PASSED A ENTRY FOR THIS 1) PARTY A/C DR. 515181 TO PROFESSIONAL INCOME CR.515181 2) TDS REFUNDABLE DR. 10101 TO PARTY A/C CR. 10101 3) BANK A/C DR.505080 TO PARTY A/C CR.505080 IS THIS ENTRY IS RIGHT ?