what is the journal entry of rent received with service tax and tds deducted
6 Replies
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 02 April 2012
Bank a/c dr.
Tds a/c dr.
Rent received a/c cr.
service tax a/c cr.
Joey Tribbiani
(fdg)
(2010 Points)
Replied 02 April 2012
Bank account Dr
TDS account dr
To Rent received
To service tax payable
Karthikeya2020
(Student)
(2030 Points)
Replied 02 April 2012
| Originally posted by : Future CA CS | ||
 |
Bank account Dr TDS account dr To Rent received To service tax payable |
 |
Above said by both are right...
Best Regards,
Karthikeya...
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 02 April 2012
Bank account Dr
TDS account dr
To Rent received
To service tax payable
Right said above......
Ankit
(CA Final)
(75 Points)
Replied 02 April 2012
1 thing more that TDS is to be deducted on only rent part and not the total of (RENT + SERVICE TAX) for ex. if Rent is rs. 10,000/- Journal entry would be (TDS @ 10% & Service tax @ 10.3%)
Bank a/c Dr. 10,030/-
TDS a/c Dr. 1,000/-
To Rent Recieved 10,000/-
To Service tax payable 1,030/-
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