Dear Sir..
I am running Security Agency and i receive at payment from my clients at the end of month after deduction of taxes. Please tell me what entry i will pass in my books of accounts. Also tell me what entry will be passed in Tally and under what head. Please help me.
Thanking you
book ur revenue with gross and cridet receipt in amount (gorss-tds), credit the tds amount
Revenur a/c dr.
to Bank a/c
to tds for the year a/c
(Being amount recd after deducting the tds)
1.Client A/c( Group Sundry Debtor) Dr.1,00,000
TO Fee Receipts ( Group: Income) 1,00,000
( Being Security agency fee receivable from Mr.Client)
2. Bank A/c ( Group: Bank) Dr. 90,000
TDS a/c ( Asset:Loans and Advances) Dr. 10,000
TO Client a/c 1,00,000
( Being cheque received from Client deposited in Bank and TDS a/c for )
| Originally posted by : umesh sharma | ||
 |
book ur revenue with gross and cridet receipt in amount (gorss-tds), credit the tds amount Revenur a/c dr. to Bank a/c to tds for the year a/c (Being amount recd after deducting the tds) |
 |
Mr. Umesh Sharma
Please check carefully your entry / comment before post.
Your entry is wrong
CAclubindia
