Please pass the Journal Entry

Rent Received or paid(each case) of Rs. 52,000 after TDS @ 10%, the bill value is 55,000 including GST @ 5%.
Replies (1)

Rent  paid  ( commercial  )  Booking  entry 

1)    Rent               A/c    Dr 

       CGST            A/c     Dr 

       SGST            A/c      Dr 

      To   Trade  creditors                A/c     Cr 

      To   TDS   Payable                   A/c     Cr 

(  Rent  payable  )  

2)   Payment  entry 

      Trade  Creditors                       A/c     Dr 

      Bank                                         A/c     Cr 

(   Rent  Paid   Cheque No .....)  

3)   TDS   payable                           A/c    Dr 

      To  Bank                                   A/c     Cr 

(  TDS  deposited with  bank  ) 

 

     Rent    Received  entry  

2)   Bank                                      A/c       Dr 

      TDS on  Rent                         A/c       Dr 

      To   Trade  Debtors                A/c                 Cr 

( Being  rent  received  after deducting  TDS ) 

       

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