Dear AIl,
Please assure me entry is correct to booking the expense on provision basis with TDS booking as on 31st March 2019.
Entry Booked On 31/3/2019
Expense Account Dr. 100000
Vendor Account Dr. 10000
To Expense Payable Account Cr. 100000
To TDS Payable (194J)Account Cr. 10000
The entry will be:
Expense A/c Dr. 110
To Expense Payable A/c Cr. 100
To TDS Payable A/c Cr. 10
I assumed total exp. as Rs. 110 and TDS only Rs.10
If the total exp. is Rs. 100 then :
Expense A/c Dr. 100
To Expense Payable A/c Cr. 100
Expense Payable A/c Dr. 100
To Vendor A/c 100
Vendor A/c Dr. 10
To TDS Payable A/c 10
If you dont want to tfr the amount to Vendors A/c and keep as Provision then:
Expense A/c Dr. 100
To Expense Payable A/c Cr. 90
To TDS Payable A/c Cr. 10
CAclubindia
