Interest on TDS entry in Tally 9

Dear Sir,

Please provide me the procedure of TDS entry in Tally 7.2

Thanks

Akshay

MR NADIM IS RIGHT BUT THERE IS ONE MORE SOLUTION FOR THIS

FOR ACCOUNTING ENTRY FOR TDS INTEREST YOU MAY ALSO DEBIT THE AMOUNT TO GENERAL EXPENSES (MISC EXPENSES)

B'COZ AS PER KNOWLEDGE ANY PENALTY/FINE SHALL BE DISALLOWED BY IT DEPT., SO BETTER YOU CAN ACCOUNTING INDIRECTLY.

FOR ANY PAYMENT OF TDS YOU SHOULD DEBIT TO TDS PAYEBLE ACCOUNT AND CREDIT THE CSH/BANK ACCOUNT.

THE TDS ACCOUNT IS A LIABILITY ACCOUNT SO IT SHOULD BE NIL AT THE END WHEN YOU PAY OLL THE DUES.

IN MY VEIW Mr. RAJESH IS RIGHT BECAUSE THE FINE AND PENALTY SHALL BE DISALLOWED BY IT DEPARTMENT, SO WE SHOULD HAVE TO DO ACCOUNTING INDIRECTLY FOR THIS THING , AND ON THE ANOTHER HAND WHEN WE PAY THE TDS LIABLITY THE ENTRY WILL BE TDS PAYABLE ACCOUNT.......Dr. AND CASH / BANK ACCOUNT.......Cr. AND AT LAST WHEN WE PAY WHOLE OF AMOUNT THAN TDS PAYABLE ACCOUNT GET NIL BALACE................................

CHETAN DADHICH

ACCOUNTANT(C.A. Inter)

Thanks & Regards

Hemant

how to pass tds entryes in tally & what is the procejur  what ledgers in creating please explain

Pl send this  Entries- 

Audit fees of Rs.5000 is paid to T.S auditing in cash on 1.6.2007 TDS is also adjusted. (tax @ 10%, surcharge @ 10%, cess @ 2% and edu cess @ 1%) bill no. TSA/01

how to pass tds entryes in tally & what is the procejur  what ledgers in creating please explain

Originally posted by : Rajen
	We are Using Tally 9 release 1.21 (English) version. As per your Tally ref  we are booked TDS payable entry on 31.05.07 and due date for payment is 07.06.07. All entries are goes perfectly. But unfortunatly we are not made a payment on 07.06.07 and make payment on 26.06.07 along with interest. Now my question is How I pass the entry of Interest payable on TDS on dated 26.06.07.as well as payment voucher along with interest on dt 26.06.07. he simple accounting i know but I want to booked in tally 9 using advance feature of TDS.   Your early action in this matter is higly appreciated. because of this i unable to reconcile my bank a/c also.   Pl it Most Urgent. Rajen Vora vora.rajen @ rediffmail.com vora.rajen67 @ yahoo.co.in

any software whether it is tally or other, does not change the accounting concepts. so don't be confused. the entry will be simple..

TDS payable                                Dr.

INterest on TDS                         Dr.

    to Bank.

Originally posted by : srinivas
	Pl send this  Entries-  Audit fees of Rs.5000 is paid to T.S auditing in cash on 1.6.2007 TDS is also adjusted. (tax @ 10%, surcharge @ 10%, cess @ 2% and edu cess @ 1%) bill no. TSA/01

 Professional charges .......dr/          4500

TDS on P.Charges..........dr/             500

Service Ta @ 10.3%.........dr/          515

            To Cash A/c                                5515

(Being amount paid to T S auditing towards the auditing

fees vide Bill No TSA/01 @ S.Tax @ 10.3% )