query

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HOW CAN WE ADJUST  TDS ANS SERVICE TAX IN  JUST SINGLE ENTRY . PLS TELL  ME THE COMBINED ENTRY.

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Let us assume that the bill is as follows

 

Professional Charges - 10,000

Service Tax                       - 1,030

Total                                   11,030

 

Now, the TDS amount will be 10% of Rs.11,030 i.e., Rs.1,103. .

 

Now the entry will be as follows

 

Expenses A/c Dr 10,000

Service tax credit A/c Dr 1,030


To TDS payable A/c 1,103

To Bank 9,927

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