Dear sir,
our company paying tds to govt without deduct employee salary . also we booking expenses at our book. this tds amount also include their salary income . so how i calculate tds working
Example, salary 100
Tax 10, so total taxable 110.
Dear sir,
our company paying tds to govt without deduct employee salary . also we booking expenses at our book. this tds amount also include their salary income . so how i calculate tds working
Example, salary 100
Tax 10, so total taxable 110.
To calculate the TDS, you'll need to consider the salary and the TDS amount paid by the company. Here's a step-by-step process: TDS Calculation: 1. *Gross Salary*: ₹100 2. *TDS Amount*: ₹10 3. *Total Taxable Amount*: Gross Salary + TDS Amount = ₹100 + ₹10 = ₹110 TDS Calculation Working: Salary TDS Total Taxable 100 10 110 In this example, the total taxable amount is ₹110, which includes the gross salary of ₹100 and the TDS amount of ₹10. Accounting Entry: To book the expenses and TDS in your accounts: 1. *Debit*: Salary Expense (₹100) 2. *Debit*: TDS Expense (₹10) 3. *Credit*: Salary Payable (₹100) 4. *Credit*: TDS Payable (₹10) By following this process, you'll accurately calculate the TDS and record the necessary accounting entries.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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