Income Tax reverse working

Tax queries 106 views 1 replies
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Accounts Executive
49 Points Joined June 2014

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. 

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On 31 March 2025 at 14:09 Report
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Master in Accounts & high court Advocate
9142 Points Joined December 2011

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.

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On 31 March 2025 at 17:33


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