banner_ad

Pls replay its urgent

Others 309 views 3 replies

Please make suggestion for the following

   A.Debtors a/c – Rs.10000

      TDS receivable – Rs.1000

      Professional income – Rs.11000

 

1a.      DUE

Party a/c                Dr  10000

                 TDS Receivable     Dr  1000

                    To Professional Income    11000

 

 1b.    1.Party a/c                               Dr. 11000

               To Professional income    11000

 

           2.TDS Receivable                Dr. 1000

                 To. Party                                        1000

 

Is the second entry 1B-2  entry was correct ????, The 2nd entry credit Party or Professional income ????

 

B.M/s. A is  a Proprietary concern its 26AS shown Rs. 12000 as refund (FY 2014-15)

    What is the accounting treatment in  the current year. Journal entry for that

Is any JV should pass ?????. What is the journal entry if it is received ????? Is any difference if the assessee is company????

Replies (3)
A. your entry in 1B-2 is correct.. and party a/c will be credited.

B. if the prop. concern has refund then following two options are available.
(i) if refund is received in bank a/c of business, then
bank a/c dr.
to tds receivable a/c

or

(ii) if refund is recieved in personal savings a/c, then
capital a/c dr.
to tds receivable a/c

Is any difference if the assessee is a company??????

no difference, except that refund to personal savings account is not possible.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details