IF HOUSE PURCHASE FROM BUILDER AND WE DEDUCTED TDS @ 1%
HOUSE VALUE =3750000
TDS=37500
HOW PASS JOURNAL ENTRY IN OUR BOOKS OF ACCOUNTS
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HOUSE PURCHASE
Replies (2)
No TDS is required to be deducted when house purchased value is below Rs. 50 lakhs.
Agree with Shri Dhirajlal Rambhia Sir, but still if you deduct tds & paid then you should entered ..... following entry
House ( FA ) - 3750000
To Tds Payable ( Prov.) - 37500
To Builder A/c ( Crs. ) - 3712500
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