Sir,
Rent TDS Please explain.
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Rent tds
Replies (1)
Deduct 10% on the amount of rent, excluding service tax and deposit the same in the Govt's account.
Journal would be: (In case of no service tax)
Rent A/c Dr. Rs 100
To Creditor A/c Rs 90
To TDS on Rent A/c Rs.10
Journal would be: (In case service tax)
Rent A/c Dr. Rs 100
Service Tax A/c Dr. 12.36
To Creditor A/c Rs 102.36
To TDS on Rent A/c Rs.10
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