provisional entries

Hi

audit fees , telephone bill Dr

  to Prov for Audit fees,prov for expenses Cr

Later the provision can be reversed
 or

Payement can be made thru the prov account

at the time of provision

Expences a/c(nominal a/c)       DR

to Expences payble a/c(provision)

(with the amout of provision )

next year at the time of payment

Expences payble a/c  Dr.

to cash/bank

Audit Fees/Telephone Expenses A/c Dr.

To Outstanding Liabilities (or) Respective Expenses Payable A/c

Expense A/c....Dr (i.e. telephone, audit fees,etc.) (p&l A/c)

To Provision for Expenses A/c (current outstanding liabilities in B/S)

While making Provision for Audit Fee - TDS to be considered.

Rent Payable A/c Dr To Prov for Rent.

 the above entry is correct??????.

kindly clarify.

if not pls pass the provisional entry for Rent.....!!!!!

Audit Fees A/c    Dr.......... 10000 Rupees

To 194J Professional tds 10%  Cr............ 1000

To Provisional for Audit Fees Cr............9000

Where is TDS Deduction  ?  194J Professional fees 

Technical fee at 2%

Professional fee at 10%

Google taxadda or clear tax for further info. 

Journals world be like

Dr expense

Cr. Fee payable

Cr. Tds payable

https://cleartax.in/s/tds-rate-chart

Expense on provision basis.

Expense a/c Dr.

To Provision for expnses

if vendor is confirmed and tds is applicable than second entry

Vendor Dr.

To TDS Payable a/c (as per nature of expense like prof 194J, contractor 194C)

when the actual expense will book no requirement of TDS deduction.

no tds applicable here. All tds 194j treshold is 30k

Hi can someone please explain me this:

I was calculating DTA/DTL on depreciation from SLM & WDV. The formula in the text book is saying

SLM-WDM=Temporary difference

Then (Temporary difference* Tax rate*-1) why -1? because of this -1, all positive temporary differences are becoming DTL's and all negative temporary differences are becoming DTA's